Nicole McDermott, former senior vice president of corporate services at Security Trust Co., pled guilty to securities fraud charges for allowing hedge fund clients to trade behind the bell, NY AG Eliot Spitzer said.

She faces a maximum of four years in prison. She was arrested on Nov. 25, along with CEO Grant Seeger and former President William Kenyon on charges of grand larceny, falsifying business records and securities fraud. The trio was charged with stealing millions of dollars in mutual fund shares by engaging in illegal late trading schemes.

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