Grand Jury Reportedly Investigating Strong
A New York state grand jury is reportedly considering evidence against the founder and former chief executive of beleaguered mutual fund company Strong Financial Corp.
The grand jury, convened by New York Atty. Gen. Eliot Spitzer, has been examining evidence concerning Richard S. Strong’s short-term trading activity in his company’s mutual funds, the New York Times reported Friday.
The grand jury has been hearing evidence related to Strong for several weeks, the newspaper said, citing unnamed people who had been briefed on the proceedings. Strong could not be reached for comment.
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