Spitzer Drops Criminal Charges Against Ex-BofA Broker Sihpol

Attorney General Eliot Spitzer announced Wednesday he was dropping criminal charges against former Banc of America securities broker Theodore Sihpol, who had been accused of helping large institutional investors illegally engage in mutual fund "late trading." Earlier in the day, Sihpol had settled civil charges by the Securities and Exchange Commission, agreeing to a $200,000 fine and a five-year ban from the securities industry.

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