Ex-trader at Cantor Fitzgerald indicted on securities fraud

[Judi Lynn]

Source: Associated Press

Updated 5:55 pm, Friday, December 9, 2016


NEW HAVEN, Conn. (AP) A former trader for Cantor Fitzgerald & Co. has been indicted on securities fraud charges.

Federal prosecutors in Connecticut say 35-year-old David Demos, of Westport, cheated customers by fraudulently manipulating prices for residential mortgage-backed securities. As a result, investigators say, Demos and the firm profited illegally and victims sustained millions of dollars in losses.

Demos worked as a trader and managing director at Cantor Fitzgerald from November 2011 until his employment was terminated in February 2013. He was indicted Wednesday on six counts of securities fraud.

Attorneys for Demos say he denies the charges and intends to "vigorously defend himself."


Read more: http://www.chron.com/news/crime/article/Ex-trader-at-Cantor-Fitzgerald-indicted-on-10785975.php

---

[center]


David Demos, with the black tie.

[Hugin]

1. Next stop...

The Trump cabinet.

I can hear him bellowing, "How's the SEC or FDIC grab, ya? Or you could tear apart those pesky Credit Unions." now.

[Chicago1980]

2. I remember the name Cantor Fitzgerald as being one of the companies

hit so very had on 9/11

[TexasBushwhacker]

4. Yep, some of the Jersey Girls' husbands worked for Cantor

They were a favorite punching bag of the RW.

[olddad56]

3. Give him a cabinet position, in 42 days what he did won't even be illegal.

[nitpicker]

5. Link to the DoJ PR

https://www.justice.gov/usao-ct/pr/indictment-charges-former-cantor-fitzgerald-rmbs-trader-securities-fraud