Nahum Vaskevitch and David Sofer were well known respectively in London and Jerusalem financial circles, where they seemed the very models of the modern investment wizard. Less known to their colleagues -- in fact, their deep, dark secret -- was the amount of time they spent in frequent, terse phone conversations. Last week the subject of their calls became the stuff of scandal when the Securities and Exchange Commission charged Vaskevitch, 36, the head of international mergers in Merrill Lynch's London office, and Sofer, 46, an Israeli stock speculator, with ringing up more than $4 million in illegal profits from a...
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