Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
D.C.
Delaware
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Mass.
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
N.Carolina
N.Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
S.Carolina
S.Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington
W.Virginia
Wisconsin
Wyoming
Law Firm Website Design Companies : The Good, The Bad, and The Ugly


A former senior Refco Inc executive pleaded guilty on Wednesday to criminal charges for his role in an alleged fraud that led to the collapse of the futures and commodities broker.

Santo Maggio, 56, who was president of the Refco Capital Markets unit, pleaded guilty to four counts -- two counts of securities fraud, one count of conspiracy and one count of wire fraud -- at a hearing before Magistrate Judge Ronald Ellis in Manhattan federal court.

Separately, the U.S. Securities and Exchange Commission said in a related action it had settled a civil lawsuit against Maggio.

Refco and 23 affiliates filed for Chapter 11 bankruptcy protection on October 17, 2005, a week after revealing that former Chief Executive Phillip Bennett had hidden $430 million of bad customer debt. It later liquidated its operations.

Maggio told the judge that Refco's losses were covered up.

"I participated with others to hide the true financial health of Refco," he said. "I deeply regret my conduct and the harm that it has caused."

He faces a maximum sentence of 65 years for the charges. He is scheduled to be sentenced on May 9.

The plea comes a day after prosecutors, along with the U.S. Postal Inspection Service and the Securities and Exchange Commission, filed charges against Joseph Collins, a former outside lawyer for Refco. 


Legal News | Breaking News | Terms & Conditions | Privacy

ⓒ Breaking Legal News. All Rights Reserved.

The content contained on the web site has been prepared by BLN as a service to the internet community and is not intended to constitute legal advice or a substitute for consultation with a licensed legal professional in a particular case. Affordable law firm web design company
   More Legal News
   Legal Spotlight
   Exclusive Commentaries
   Attorney & Blog - Blog Watch
   Law Firm News  1  2  3  4  5  6 
   Lawyer & Law Firm Links
Car Accident Lawyers
Sunnyvale, CA Personal Injury Attorney
www.esrajunglaw.com
Family Law in East Greenwich, RI
Divorce Lawyer, Erica S. Janton
www.jantonfamilylaw.com
Oregon DUI Law Attorney
Eugene DUI Lawyer. Criminal Defense Law
www.mjmlawoffice.com
New York Adoption Lawyers
New York Foster Care Lawyers
Adoption Pre-Certification
www.lawrsm.com
Chicago, Naperville IL Workers' Compensation Lawyers
Chicago Workplace Injury Attorneys
www.krol-law.com
Raleigh, NC Business Lawyer
www.rothlawgroup.com
Lorain Elyria Divorce Lawyer
www.loraindivorceattorney.com
Connecticut Special Education Lawyer
www.fortelawgroup.com
Los Angeles Immigration Documents Service
New Vision Immigration
www.immigrationnew.com
St. Louis Missouri Criminal Defense Lawyer
St. Charles DUI Attorney
www.lynchlawonline.com
   More Legal News  1  2  3  4  5  6
   Legal News Links
  Click The Law
  Daily Bar News
  The Legal Report
  Legal News Post
  Crisis Legal News
  Legal News Journal
  Korean Web Agency
  Law Firm Directory