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Stockbroker to Sue Feds for $150M

Friday, Jul 11 2014
Regulatory & Compliance
Written by  PFA News

Kenneth Mahaffy, whose conviction in a squawk box case was overturned, says he plans to sue the federal government for $150 million for malicious prosecution. So reports Newsday.

The Huffington, N.Y, resident’s conviction was overturned when an appeals court ruled that federal prosecutors withheld certain dispositions, which made the legal proceedings unfair in the case. Prosecutors allege broker employees were leaking information on clients’ trades.

Read the full article from Newsday. 

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