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Too late for NY prosecution in securities meltdown

Anonymous Coward
User ID: 1252172
10/04/2012 07:25 PM
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Too late for NY prosecution in securities meltdown
Described as a template for more lawsuits to follow, the move signals that Wall Street players won't face state prison for packaging and selling the troubled investments that nearly brought the U.S. economy to its knees. The felony statute of limitations under New York's Martin Act against securities fraud is five years, so it's too late to bring a criminal case.

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