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Former Smith Barney Adviser Pleads Guilty

MANHATTAN (CN) - A former financial services adviser at Smith Barney pleaded guilty to defrauding clients of Smith Barney and Citigroup of more than $3 million. Sanjeev Jayant Kumar Shah faces as much as 110 years in prison for one count of securities fraud and three counts of wire fraud.

Shah, 35, of New York, N.Y., will be sentenced on Feb. 24. He fabricated messages from a foreign bank authorizing him to transfer $3.25 million from a client's account to an offshore account, and then covered it up - but not very well.

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