A former Bank of America Corp. broker on Thursday was found not guilty of making mutual fund trades after the stock market had closed, a rare blow to New York Attorney General Eliot Spitzer's campaign against Wall Street misdeeds.
In New York State Supreme Court, a 12-member jury acquitted Ted Sihpol of 29 counts of larceny, securities fraud and falsifying business records after six days of deliberations. The jury deadlocked on four other counts, causing Justice James Yates to declare a mistrial on those charges.
Sihpol, 37, was the only former Bank of America employee criminally charged in Spitzer's sweeping investigation of the mutual fund industry and the first from any firm to go to trial. The Charlotte bank dismissed him shortly after the probe became public in September 2003.
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