Source: AP
By: Company Press Release
(NEW YORK, NY) — A former top Wall Street executive will be tried again on insider trading charges after a federal appeals court tossed out his conviction, a prosecutor indicated Friday.
Assistant U.S. Attorney Andrew Ceresney told Judge Kimba Wood that the government wants to put James McDermott Jr. on trial with porn star Kathryn Gannon [a.k.a. Marilyn Star].
McDermott, 49, of Briarcliff Manor, N.Y., allegedly gave Gannon insider tips while he served as the chief executive officer of Keefe Bruyette & Woods, a New York-based investment bank specializing in mergers and acquisitions in the banking industry.
The judge said she would decide whether the two could be tried together after she learns how long it will take to extradite Gannon from Canada, where she resides.
A lawyer for McDermott said it would be prejudicial to his client to make him go on trial with the porn star.
