Clark pleaded innocent to a 55-count indictment.
Defendant David W. C. Clark, a former partner in a New York law firm, is charged with embezzling $3.7 million from clients to bankroll his participation in the R. Foster Winans insider trading scandal. Clark was arraigned before U.S. District Judge Charles E. Stewart in New York. The indictment charges him with securities, mail and wire fraud, tax evasion, conspiracy and perjury before the Securities and Exchange Commission. Clark, 37, of Fort Lauderdale, Fla., was freed on $250,000 bail.
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