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 , in violation of Securities and Exchange Commission rules.
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