A former Sterne Agee & Leach managing director pleaded guilty to lavishing a portfolio manager at New York state’s pension fund with trips to luxury vacation destinations in exchange for steering hundreds of millions in trading business her way (United States v. Kelley, S.D.N.Y., No. 16-cr-00837, guilty plea 5/30/17).
Deborah Kelley, a resident of Piedmont, Calif., admitted she spent tens of thousands of dollars to pay for trips for Navnoor Kang and his girlfriend to New Orleans, and Park City, Utah, and VIP tickets to a Paul McCartney concert. She expensed the costs to Sterne Agee, while omitting ...
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