NEW YORK – The founder of a Wall Street firm who lost a recent sexual harassment lawsuit has been arrested on securities fraud charges.
Benjamin Wey was arrested Thursday at his Manhattan home. He is the founder and president of New York Global Group, an investment consulting firm.
The 43-year-old executive is charged with conspiracy to commit securities fraud, wire fraud, and two counts of securities fraud. Messages left with his lawyers were not immediately returned.
Prosecutors said in court papers that Wey made tens of millions of dollars illegally by manipulating the stock prices of companies he gained a secret financial interest in.
In June, a jury awarded $18 million to a young Swedish woman who sued Wey for sexual harassment.