U.S. Drops Case Against N.Y. Financier After Judge Slams FBI

The U.S. moved to drop fraud charges against Benjamin Wey, the founder of the private equity firm New York Global Group, after a judge threw out thousands of pages of documents she said were illegally seized by the FBI in 2012 (United States v. Wey, S.D.N.Y., 15-611, charges dropped 8/8/17).

The dismissal by prosecutors in Manhattan comes less than three weeks after the government surrendered in another high-profile white-collar case. The U.S. last month dropped charges against two former JPMorgan Chase & Co. traders accused of hiding more than $6.2 billion in trading losses on wrong-way derivative bets, ...