A federal judge in Pennsylvania has scheduled a criminal trial to begin Dec. 8 for Robert Bradbury, the former head of the defunct underwriter Dolphin & Bradbury Inc., who has been charged by U.S. attorneys with allegedly defrauding four Pennsylvania school districts by selling them unsuitably risky notes between 1998 and 2004.

The notes were to be used to finance the development of a golf course, which failed, causing the school districts to lose $10.5 million.

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