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Thursday, November 08, 2012

The Bents' Fate Rests With The Jury

News summary by MFWire's editors

Superstorm Sandy delayed the closing arguments at the Bents’ fraud trial by a little more than a week, and then made an appearance in the defense’s closing arguments.

Defense attorney John Dellaportas compared the 2008 financial crisis to last week’s storm, according to the Wall Street Journal, saying that both were unpredictable.

He said the Bents weren’t lying on Sept. 15, 2008 about supporting the Reserve Primary fund – which eventually broke the buck – they simply didn’t see how bad things were getting.

The SEC, meanwhile, argued that the Bents knew what was happening and were simply trying to save their business.

According to the Journal, the case is now with the jury. You can read the original story here.  

Edited by: Ben Geier


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