The courtroom saga of former Bank of America broker Theodore Sihpol is not yet over, as New York State Attorney General Eliot Spitzer will pursue four unresolved counts. Sihpol is set to return to court for trial on August 22, with a pre-trial hearing slated for the 15th, Bloomberg reports.

Although a Spitzer spokesman said that retrial of such counts is "quite common," one of Sihpol's lawyers found the move surprising.

"It's an odd response under the circumstances," said Paul Shechtman, explaining that the jury was deadlocked at 11-1 for acquittal on those four charges at the point when the judge declared a partial mistrial.

The four remaining counts are: securities fraud, scheming to defraud and two counts of falsifying business records. Because of the scheming to defraud charge, the new trial is likely to be as large in scope as the previous trial, consuming four to five weeks, said State Supreme Court Justice James Yates, who presided over the case.

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.

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.