{"id":304,"date":"2006-08-02T11:36:40","date_gmt":"2006-08-02T16:36:40","guid":{"rendered":"http:\/\/www.sequence-inc.com\/fraudfiles\/2006\/08\/02\/us-loses-first-nyse-case\/"},"modified":"2011-11-01T11:29:33","modified_gmt":"2011-11-01T16:29:33","slug":"us-loses-first-nyse-case","status":"publish","type":"post","link":"https:\/\/www.sequenceinc.com\/fraudfiles\/us-loses-first-nyse-case\/","title":{"rendered":"U.S. Loses First NYSE Case"},"content":{"rendered":"<p>The first case against a [tag]NSYE specialist firm[\/tag] trader was aqutted of charges that he made improper trades of Eli Lilly stock.  The case against Robert Scavone Jr. ended with a finding of [tag]not guilty[\/tag] for one count of secruities fraud.  He faced up to 20 years in prison.<\/p>\n<p>The accusations against Scavone, a former trader for Van der Moolen Specialists USA LLC, included illegally trading for the firm&#8217;s account ahead of public orders.  It was alleged that the firm made profits (and avoided losses) to the tune of $500,000 because of this. The defense was that the trades weren&#8217;t intentional crimes, rather that they were mistakes as well as misinterpreted.<\/p>\n<p>11 more traders are expected to go to trial with their cases.   2 other traders have been found guilty in trials, and 2 more pleaded guilty.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The first case against a [tag]NSYE specialist firm[\/tag] trader was aqutted of charges that he made improper trades of Eli Lilly stock. The case against Robert Scavone Jr. ended with a finding of [tag]not guilty[\/tag] for one count of secruities [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[5],"tags":[],"class_list":["post-304","post","type-post","status-publish","format-standard","hentry","category-fraud-news-stories"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p6Z0e-4U","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/posts\/304","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/comments?post=304"}],"version-history":[{"count":0,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/posts\/304\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/media?parent=304"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/categories?post=304"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/tags?post=304"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}