Ex-Bank of America Broker Gets 7 Months for Bribery
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Former Bank of America Corp. broker Paul Risoli was sentenced to seven months in prison for taking $12,500 in bribes in exchange for shares of initial public offerings.
Risoli is one of 10 people who've pleaded guilty in an insider trading case that prosecutors said was one of the largest on Wall Street in recent years. Risoli, who worked for Bank of America Securities LLC in New York, admitted in August that he accepted kickbacks from a partner at a New York-based hedge fund, in return for shares in companies going public.