Ex-Refco president found guilty of fraud

NEW YORK, April 17 (Reuters) - The former president of Refco, once one of the biggest clearing houses for derivatives, was found guilty on Thursday of five criminal counts related to a scheme to hide more than $1 billion in trading losses from clients.

Tone Grant was found guilty of conspiracy, securities fraud, wire fraud, bank fraud and money laundering by a jury in U.S. District Court in Manhattan. (Reporting by Martha Graybow; Editing by Gary Hill)