May 4, 2018 / 3:50 PM / 9 months ago

Ex-State Street employee accused by U.S. of defrauding insurer

BOSTON, May 4 (Reuters) - A former State Street Corp employee in Massachusetts was arrested on Friday and charged with participating in a scheme to defraud an insurance company by applying hidden fees to fixed income trades conducted for funds advised by the insurer.

Kevin Walker, a former vice president at the bank, was charged in a criminal complaint filed in federal court in Boston with wire fraud and accused of participating in the scheme with another one-time State Street employee already under indictment. (Reporting by Nate Raymond in Boston Editing by Chizu Nomiyama)

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