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Bond Fraud Jury Is Deadlocked at Ex-Cantor Trader’s Trial

Updated on

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.

Ex-Bond Trader Jury to Pick Between Fraudster, ‘Guinea Pig’

(Updates with jury finishing for the day.)
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