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."

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.