Former Ernst & Young Partner Found Guilty of Fraud
The Wall Street Journal has reported that, James Gansman, a former Ernst & Young partner, was found guilty of fraud last week in an insider-trading scheme to make improper trades based upon pending corporate takeovers while the accounting firm acted as an advisor. Gansman was found guilty of six counts of securities fraud. Gansman faces up to 20 years in prison on each securities fraud count. Sentencing has been set for October 1.
