New York Attorney General Eliot Spitzer has indicted Trautman Wasserman broker James Wilson and charged him with 11 counts for placing late mutual fund trades on behalf of the firm's hedge fund clients between November 2000 and September 2003. Each of the charges carries up to four years in jail and a penalty up to $5,000, or double the amount of the gain from the criminal conduct.

After being arraigned before New York Supreme Court Justice James Yates, Wilson was released on $25,000 bail and ordered to remain in the tri-state area. Wilson's attorney, Frank Wohl, said his client "has substantial defenses" to the charges.

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