Former Trader at Drexel Barred: Former Drexel...

Former Trader at Drexel Barred: Former Drexel Burnham Lambert trader Carey J. Maultasch has been barred permanently from the securities industry for his part in Wall Street’s biggest insider trading scandal. Maultasch, 37, once a senior trader under junk bond financier Michael Milken, the former chief of Drexel’s Beverly Hills-based high-yield bond department, settled civil securities fraud charges in April without admitting or denying guilt. As part of the settlement, the Securities and Exchange Commission instituted a proceeding barring him from associating with any broker, dealer, investment adviser or investment firm.