Ex-BofA Broker Will Be Retried in Fund Case
A former Bank of America broker, acquitted last month on most counts related to after-hours mutual fund trades, will be retried on four charges on which the jury was unable to reach a verdict, New York prosecutors said Thursday.
Theodore C. Sihpol, 37, was tried on 33 counts arising from what prosecutors said was his illegal mutual fund trading after securities markets had closed. The jury found Sihpol not guilty on 29 counts, and a mistrial was declared on the other four charges.
Prosecutors from New York Atty. Gen. Eliot Spitzer’s office said they opted to present the remaining charges to another jury after last-ditch efforts to reach a plea deal failed.
“We went some ways to resolve this without a trial, and we didn’t do it,” said Assistant Atty. Gen. Harold Wilson.
Sihpol’s lawyer, Paul Shechtman, said his client had no interest in pleading guilty to anything in the case.
Another Sihpol lawyer, Barry Felder, issued a statement saying Spitzer “seems intent on spending even more taxpayer dollars to criminalize behavior that has never been considered criminal.”
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