December 9, 1988 |
A former director of the Federal Reserve Bank of New York was indicted on charges of leaking sensitive information about interest rates to a now-defunct New Jersey brokerage firm. Robert A. Rough, 49, became the first Federal Reserve official indicted for alleged improprieties in the 75-year history of the central bank system. Rough served on the nine-member board of directors of the Fed's New York branch from 1982 to 1984.
April 11, 1987 |
A federal grand jury is investigating charges that a former director of the Federal Reserve Bank of New York leaked secret information on the bank's interest-rate policy to a brokerage that used it to profit in securities trading, sources said Friday. Robert A. Rough, a New Jersey bank president and member of the regional Fed bank board from 1982 to 1984, has been accused by former officials of the bankrupt Bevill, Bresler & Schulman Inc. brokerage of passing on the information to Gilbert C.
December 8, 1988 |
A former director of the New York Federal Reserve Bank was charged today with leaking confidential interest rate information to a securities brokerage in what prosecutors said was the first insider trading case involving government securities. Robert A. Rough, 49, of Layton, N.J., received $47,000 in interest-deferred loans from the now defunct Bevill, Bresler & Schulman investment firm in exchange for the information, the indictment charged.
June 22, 1989 |
A former New York Federal Reserve Bank board member pleaded guilty Wednesday to illegally passing on confidential interest rate data in the first insider trading case involving government securities. In a plea agreement, Robert A. Rough, 50, pleaded guilty to a single bank fraud charge and the government in exchange dropped two insider trading charges and four related counts. Rough admitted leaking confidential data while he served as a New York Fed board member from 1982 to 1984 to a securities firm that made about $50 million from the information.
December 15, 1988 |
Former New York Federal Reserve Bank Director Robert A. Rough pleaded innocent today during his arraignment before U.S. District Judge Dickinson R. Debevoise--one week after being indicted by a federal grand jury. Rough was accused of leaking information on the discount rate set by the Federal Reserve Bank in Washington to principals at Bevill, Bresler & Schulman Inc., a brokerage firm in Livingston, N.J., that later collapsed.