Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Monday, February 18, 2008

Former Refco CEO Says He's Sorry

Philip Bennett, former CEO of failed commodities broker Refco, pleaded guilty to securities fraud weeks before his trial was set to start.  The charges stem from a decade-long scheme to conceal the firm's true financial condition from the public.  The trial is scheduled to continue against two other Refco executives.  WSJ, Bennett, Refco's Former CEO, Avoids Trial With Guilty Plea.

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