October 16, 2018 / 2:32 PM / a month ago

Ex-State Street executive gets prison in U.S. for defrauding clients

BOSTON, Oct 16 (Reuters) - A former State Street Corp executive was sentenced on Tuesday to 18 months in prison after being convicted of taking part in a scheme to overcharge customers of the bank by applying secret commissions on billions of dollars’ worth of trades.

Ross McLellan, 46, was sentenced by U.S. District Judge Leo Sorokin in Boston after a federal jury in June found the one-time State Street executive vice president guilty of charges including conspiracy, securities fraud and wire fraud. (Reporting by Nate Raymond in Boston)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below