The SEC has barred ex-Fidelity Investments trader Thomas Connolly from the securities industry. Connolly had pleaded guilty to federal wire fraud charges.

The case dates to 1997 when Connolly worked on Fidelity's options trading desk. Connolly and Fidelity co-worker Richard Callipari admitted to making a series on unauthorized trades that defrauded the fund firm of $2.4 million.

SEC officials said that they were unable to locate Connolly to inform him of the action.  

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