Securities Fraud Case Against Financier Benjamin Wey Is Dismissed
Soon after the request was made, Judge Alison J. Nathan of the Federal District Court in Manhattan signed the order
Prosecutors sought the dismissal just a few months before Mr. Wey was scheduled to go on trial on charges
that he orchestrated a stock-manipulation scheme that generated tens of millions in illegal profits.
Last week, federal prosecutors in Manhattan said in a filing
that they were awaiting word from the Office of the United States Solicitor General for approval to appeal Judge Nathan’s sweeping suppression order.
Federal prosecutors have dismissed securities fraud charges against the New York financier
Benjamin Wey after a judge tossed out much of the evidence against him in June.
The move to dismiss was not surprising after Judge Nathan, in an earlier 92-page ruling, had found
that federal law enforcement officials had botched a daylong search of Mr. Wey’s office and home in Lower Manhattan by indiscriminately seizing items under a poorly drafted search warrant.
“The government made the correct decision to drop charges in light of the significant constitutional violations described
by Judge Nathan in her ruling,” said David Siegal, a lawyer for Mr. Wey and a partner with Haynes & Boone.
