Ex-Cantor Bond Trader Is Accused of Lying While Defense Calls Alleged Victims ‘Profiteers’
- David Demos is one of more than half-dozen charged by U.S.
- Defense says client’s life ‘destroyed’ over sales haggling
This article is for subscribers only.
A U.S. government crackdown on bond traders using questionable tactics resurfaced in a Connecticut courtroom at the trial of a former Cantor Fitzgerald LP managing director who is charged with lying to his customers.
David Demos is one of more than a half-dozen traders who were charged with deceiving clients, in this case about the prices his firm could pay for mortgage-backed securities, or how much it could sell them for, in order to increase commissions to boost his pay.