Former RBS trader Adam Siegel sentenced as bond probe finally comes to an end

A former RBS Securities Inc. trader who pleaded guilty in a decade-old crackdown on questionable bond sales was spared additional punishment by a federal judge, providing a quiet end to a prosecution that shocked Wall Street.

Adam Siegel, former co-head of U.S. mortgage and corporate transactions at RBS Securities, was sentenced Tuesday to time served by a U.S. district judge. Robert Chatigny in Hartford, Conn., more than eight years after agreeing to participate in a government investigation into questionable sales practices in the opaque world of asset-backed securities such as residential mortgages.