A federal judge in California has sentenced Philip Horn, a former Wells Fargo broker who pleaded guilty to defrauding more than a dozen clients, to two years in jail, the New York Times DealBook blog reported yesterday. Horn was a broker for Wells Fargo in Los Angeles. For more than two years, he executed and canceled trades in clients' portfolios, pocketing the profits. Wells Fargo uncovered the fraud in the fall of 2011. Last year, Horn pleaded guilty to two counts of wire fraud.
