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Nevin Shapiro, once the owner and chief executive officer of Capitol Investments USA Inc., has pleaded guilty to one count of money laundering and one count of securities fraud in a Ponzi scheme that defrauded 50 investors of some $50 million to $100 million. On the money laundering count, Shapiro is looking at a possible 10 years in prison and a fine of $250,000; on the other charge, as much as 20 years in prison and a $5 million fine.

Merrill Lynch & Company Inc., unit of Bank of America Corp., has been fined $500,000 by the Financial Industry Regulatory Authority Inc. for not offering unit investment trust investors discounts. Also, in order to conclude the case, Merrill will pay $2 million to customers affected.