A former broker at Boston’s Prudential Securities Inc. charged with fraudulently trading mutual funds for millions of dollars in commissions avoided a possible century-long prison term, and instead has been sentenced to two months in a halfway house.
A federal judge in Boston on Wednesday also sentenced Justin Ficken to two years of probation. He pleaded guilty last year to conspiracy, wire fraud and securities fraud.
Prosecutors said the 34-year-old Ficken was part of a group of brokers working for Prudential in 2001 who made market timing trades-quick in-and-out trading to exploit price-using fake identities and account names.
Ficken faced up to 105 years in prison, but Judge Patti Saris said he had taken responsibility for his actions.
Ficken’s lawyer says his client is remorseful. (AP)





