A former Bear Stearns employee has been barred by the New York Stock Exchange for helping hedge fund clients illicitly trade mutual funds.

Evan Greenberg and an unidentified junior trader at Bear used a well-worn variety of deceptive practices to facilitate market-timing for their hedge fund clients from 2000 through 2003. Hit with more than 350 complaints and block notices from mutual fund companies, Greenberg and his partner used a multiple accounts and registered representative numbers, as well as journaling strategies, to keep the scheme $1.5 million, going.

NYSE Regulation also found that Greenberg, the junior trader and the mutual fund operation department of Bear’s clearing firm, Bear Stearns Securities Corp., worked together to late-trade mutual fund shares on behalf of a Texas hedge fund. Late-trading, unlike market-timing, is explicitly illegal.

Greenberg consented to a five-year bar and censure without admitting or denying the charges. Earlier this year, Bear was censured and agreed to pay $250 million in the case.