Posts Tagged ‘Darin Demizio’
Morgan Stanley executive guilty of fraud and conspiracy
A former executive director and head of domestic securities lending for Morgan Stanley has been convicted of securities fraud conspiracy.
Darin Demizio, who also was convicted of wire fraud and making a false statement to the FBI after a weeklong trial, faces up to 25 years on the fraud counts and five years on the false statement count.
The conviction is the 29th stemming from an ongoing industry-wide investigation into allegations of bribery and kickbacks in the securities lending industry, also called the “stock-loan” industry, the U.S. Justice Department said.
The department said 28 defendants previously pleaded guilty in Brooklyn, including former lending traders at A.G. Edwards and Sons Inc.; Janney Montgomery Scott LLC; JP Morgan Chase; Kellner Dileo & Co. Inc.; Oppenheimer & Co. Inc.; Morgan Stanley; National Investors Services, also known as TD Waterhouse; Nomura Securities International Inc.; Pax Clearing Corp.; PFPC Worldwide; Schonfeld Securities and Van der Moolen Specialists.
What was that about “birds of a feather”?
