June 6, 2017 / 8:31 PM / 4 months ago

Ex-State Street exec to plead guilty in U.S. to fraud scheme

BOSTON, June 6 (Reuters) - A former State Street Corp executive has agreed to plead guilty in connection with a scheme to defraud six clients through secret commissions on billions of dollars of trades, according to court papers filed on Tuesday.

Edward Pennings, a former senior managing director in State Street’s London office, has agreed to plead guilty to one court of conspiring to commit both wire fraud and securities fraud, according to a plea agreement filed in federal court in Boston.

In addition, Richard Boomgaardt, who was head of State Street’s transition management desk for Europe, the Middle East and Africa, was charged in a related case with one court of conspiring to commit wire fraud and securities fraud. (Reporting by Nate Raymond in Boston; Editing by Leslie Adler)

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