Back-Office Figure Emerges in Bear Stearns Investigation

In the course of that proceeding, which dates back to a time that most mutual fund trades still were submitted by fax, Bear Stearns was ordered to produce copies of tickets for dozens of mutual fund trades it received and processed after 4 p.m. Dietrich, who lives in Lakeland, Fla., says the tickets revealed that scores of brokerages had been submitting mutual fund trades after the bell.

Time stamps on the tickets, some of which were reviewed by TheStreet.com, showed that some trades were being processed as late as 5 p.m.

Many of the late tickets bore notations such as "Attention Charlie," or, "Talked to Charlie before 4 p.m." Arbitration documents submitted by Bear Stearns reveal that Charlie is a former clerk who was part of Delvecchio's group.