Employees fired for destroying electronic data

Schwab probe reveals improper fund trading

By Josh Friedman
Tribune Newspapers: Los Angeles Times
Published November 15, 2003

"U.S. Trust spokeswoman Allison Kellogg said the two employees in the firm's institutional mutual fund sales group were fired for allegedly trying to destroy electronic evidence, which was recovered and given to authorities. She said the pair allegedly were involved in making deals with "a handful of institutional clients" who traded about a half-dozen of the funds."