The hearing for former Mutual.com chief executive officer Richard Sapio was rescheduled from early this week to September 8 or September 15, Sapio's attorney William Ravkind told the MFWire.

In mid-August, Dow Jones reported that Sapio and two other former Mutuals.com executives would face stiffer charges for allegedly violating trading restrictions for mutual funds.

Sapio, former President Eric McDonald and former Compliance Officer Michele Leftwich now face up to 30 years of jailtime and $1 million fines each.  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE