The former chief compliance officer at a securities company has pleaded guilty to conspiracy to commit securities fraud and wire fraud.
The plea was entered Tuesday by Deborah Duffy. Federal prosecutors in Manhattan say Duffy participated in a scheme to defraud investors in WG Trading Co. from 1996 through February.
Prosecutors say Duffy and others at the Connecticut-based company failed to invest money as promised for investors and instead used the funds for their personal benefit.
The government said the company's customers included charitable and university foundations, pension and retirement plans and other institutions. Two investment advisers who ran the business have already been charged in the case.
Duffy signed a cooperation agreement with the government. Sentencing was set for Jan. 21.
