Security Trust Corp., the Phoenix-based firm whose three top officials were charged with felonies by New York Attorney General Eliot Spitzer, will be shut down effective March 31, 2004.

The Securities and Exchange Commission and state authorities ordered dissolution of the 134-employee company, which acts as an intermediary for mutual funds and retirement plans. This comes just days after Spitzer charged the former CEO, president and vice president with larceny, falsification of business documents and securities fraud in its dealings with maligned hedge fund giant Canary Capital. Reports estimate the company made $5.8 million in improper hedge-fund trades.

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