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Bond Fraud Jury Is Deadlocked at Ex-Cantor Trader’s TrialBy
Jurors mulling the fate of a former Cantor Fitzgerald LP trader charged with fraud said Wednesday they’re deadlocked after nearly a full day of deliberations.
David Demos is on trial in federal court charged with lying to his customers in mortgage-bond transactions in order to boost his pay. U.S. District Judge Alvin Thompson instructed the jury to keep trying to reach a verdict.
The jury sent a note earlier Wednesday asking for clarity about two elements of securities fraud -- materiality and intent to defraud. In response, Thompson provided them with extra copies of his instructions.
Deliberations ended Wednesday and the jury will resume its work Thursday morning.