Jury awards man $11M in fraud case

November 3, 2009 8:45:22 PM PST
A Cook County jury ruled that partners in a Chicago firm defrauded another partner about the value of the company.Louis Borsellino was awarded $11 million. He was part owner of the company Chicago Trading and Arbitrage.

The other partners include Jerry Putnam, former head of the New York Stock Exchange.

The court found that those other partners withheld information about the true value of the firm getting Borsellino's one-third share for $250,000. They later sold part of the company for $25 million.