Tuesday, October 24, 2006
The Wall Street Jrl reports here that the former CFO of REFCO was indicted. The press release of the U.S. Attorney's Office for the Southern District of New York states the Robert C. Trosten was indicted for his alleged:
"participation in a scheme to defraud Refco’s investors that resulted in losses of more than one billion dollars. TROSTEN is charged with assisting PHILLIP R. BENNETT, formerly Chief Executive Officer of Refco, in hiding from Refco’s auditors and investors hundreds of millions of dollars of debt owed to Refco by a company controlled by BENNETT."
The new indictment also added new fraud charges against former CEO of Refco Phillip R. Bennett.