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Brokers handed prison terms

McGinn, Smith again deny wrongdoing

David Smith, exits federal court in handcuffs to a United States Marshall vehicle in Utica after he was sentenced to 10 years in prison for fraud, on Wednesday, August 7, 2013.
Photographer: Patrick Dodson
David Smith, exits federal court in handcuffs to a United States Marshall vehicle in Utica after he was sentenced to 10 years in prison for fraud, on Wednesday, August 7, 2013.
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David Smith knew Timothy McGinn was taking too many liberties with investor money and tried to warn of these questionable tactics in a letter he wrote to his longtime business partner in 1999. The letter paraphrased by Judge David Hurd in U.S. District Court on Wednesday foreshadowed the ignoble descent of McGinn, Smith & Co. from one of the Capital Region’s premier brokerage firms to an insolvent company being probed by federal authorities. Hurd told ...


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comments

joseph4700
August 8, 2013
3:48 a.m.

[ Flag Post ]

You guys can say HI! to Bernnie/ Maybe play cards, But no dealing off the bottom. One or all of you will probably die in prision. Great roll models. Maybe Buba will be there.

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