WASHINGTON Dec 13 A former Wells Fargo banker
and eight others were indicted on Wednesday for their roles in
an alleged $11 million insider-trading conspiracy, the U.S.
Justice Department announced.
The indictment, which was unsealed on Thursday, said the
lead defendant, John Femenia, has been charged with bank fraud,
conspiracy to commit insider-trading, conspiracy to commit wire
fraud, securities fraud and money-laundering. The Justice
Department said he was arrested in New York earlier on Thursday.
Two other defendants facing many of the same charges - Shawn
Hegedus and Danielle Laurenti - are currently fugitives, the
Justice Department said. The remaining six defendants all agreed
to plead guilty to conspiracy to commit insider-trading.
The criminal charges against Femenia come roughly one week
after the U.S. Securities and Exchange Commission filed related