Latest testimony in Theodore Sihpol III's trial has revealed his motive for assisting in late trading: cold, hard cash. The former Bank of America broker received commissions for the trades well into the six-figures, Bloomberg reports.

"It was a lot of money," said Andrea Wenner, testifying on behalf of the prosecution. "Hundreds of thousands of dollars."

Wenner's testimony was the first to outline a financial incentive for Sihpol's actions in helping Canary Capital Partners conduct mutual fund trades past 4 p.m., in violation of Securities and Exchange Commission rules.

The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.

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