Ten members of a New York trade union reportedly took in more than $2 million in profits from market timing trades made through Putnam Investments, according to The Wall Street Journal.

From July 2000 through January, members of the Boilermakers Union, Local 5 of New York, made 5,340 trades in international and other mutual funds through Putnam as the administrator for their 401(k) retirement plan, the Journal said, citing sources close to the matter.

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