June 26, 2018 / 6:41 PM / in 4 months

Ex-State Street executive convicted in U.S. of hidden fee fraud

BOSTON, June 26 (Reuters) - A former executive at State Street Corp was convicted on Tuesday of U.S. charges that he participated in a scheme to defraud several of the bank’s customers by charging them secret commissions on billions of dollars of trades.

A federal jury in Boston, following more than three weeks of trial, found the former executive Ross McLellan, 46, guilty on five of six counts, including securities fraud and wire fraud. (Reporting by Nate Raymond in Boston)

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