Judge rejects evidence in case against Wall Street executive - KFBB.com News, Sports and Weather

Judge rejects evidence in case against Wall Street executive

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NEW YORK (AP) - A federal judge has tossed out evidence seized from the home and business of a Wall Street executive, saying the government "was grossly negligent" in its searches.
    
The ruling late Tuesday by Judge Alison Nathan was a blow to the government's criminal case against financier Benjamin Wey. The executive was arrested in 2015 on conspiracy, wire fraud and securities fraud charges.
    
The founder and president of New York Global Group, an investment consulting firm, has pleaded not guilty. His trial is scheduled for October.
    
Prosecutors say Wey made tens of millions of dollars by manipulating the stock prices of companies he gained a secret financial interest in.
    
In her ruling, Nathan said the government enforced "sweepingly broad" search warrants that were not properly supported.
    
A government spokeswoman declined comment.

(Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

6/14/2017 5:15:16 PM (GMT -6:00)

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