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Bond Fraud Jury Deadlocked at Ex-Cantor Trader Demos's Trial

Bond Fraud Jury Deadlocked at Ex-Cantor Trader Demos's Trial

(Bloomberg) -- Jurors mulling the fate of a former Cantor Fitzgerald LP trader charged with fraud said Wednesday they’re deadlocked after nearly a full day of deliberations.

David Demos is on trial in federal court charged with lying to his customers in mortgage-bond transactions in order to boost his pay. U.S. District Judge Alvin Thompson instructed the jury to keep trying to reach a verdict.

The jury sent a note earlier Wednesday asking for clarity about two elements of securities fraud -- materiality and intent to defraud. In response, Thompson provided them with extra copies of his instructions.

Deliberations ended Wednesday and the jury will resume its work Thursday morning.

To contact the reporter on this story: Chris Dolmetsch in New York State Supreme Court in Manhattan at cdolmetsch@bloomberg.net.

To contact the editors responsible for this story: David Glovin at dglovin@bloomberg.net, Paul Cox, Joe Schneider

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