James McDermott (business executive)

James J. McDermott, Jr. was the former CEO and chairman of Keefe, Bruyette & Woods. He was arrested and charged with insider trading in December 1999 by federal authorities.

He had revealed details about an upcoming merger in 1997 to his lover, Kathryn Gannon, a Canadian adult film actress, better known as Marylin Star, with whom he was having an adulterous relationship. At the time of his affair, he had been living in Briarcliff Manor, New York with his wife and children. McDermott remains married. He finally settled by paying a fine and being barred from working in investments management.

His family sued him in 2009 on grounds that he looted the family trust while his mother, who suffered from Alzheimer's disease, was in a nursing home.[1]

References

  1. ↑ Lawsuit against McDermott by family, nydailynews.com; accessed September 14, 2014.
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