Market divided on prospects for Bennett as legal action underway
The derivatives industry remains unsure about the likely
outcome of the fraud trial involving ex-Refco boss Phil
Bennett, which has been postponed until March 2008.
The trial concerning the actions of Bennett and two other
former executives, president Tone Grant and CFO Robert Trosten,
who are accused of misappropriating hundreds of millions of
dollars, is the subject of considerable market intrigue.
US district judge, Naomi Buchwald, granted Bennett's request
for a delay on 31 July, according to a transcript of a
telephone conference made public on 27 August.
The defendants are obviously correct in pointing out the
enormity of the potential consequences for them if they are
Buchwald said. I would not want them to feel that there
was something fundamentally unfair about the way the trial was
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