A federal jury in New York found Stephen Treadway, the former chief executive officer of Pimco Advisors Distributors and the former chairman of the board of the Pimco funds, guilty on Friday of permitting hedge fund Canary Capital Partners to market time the funds, in the Securities and Exchange Commission's civil lawsuit against him.

Canary market timed $4 billion worth of assets through 108 transactions between February 2002 and April 2003, the SEC said.

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