The U.S. Securities and Exchange Commission said on Thursday that it had charged 38 traders in a multimillion-dollar scheme involving phony finder fees and illegal kickbacks in the “stock loan” industry.

Those charged include 17 current or former traders at several Wall Street brokerages, including Morgan Stanley.

The SEC said the 38 conspired in various schemes to skim profits on stock loan transactions, pocketing more than $12 million from their actions.

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An MIT student with a fake bomb strapped to her chest - later claiming it was art - was arrested at gunpoint Friday at Logan International Airport, officials said.

The device had wires connected to a battery, allowing it to light up, he said. Simpson also had Play-Doh in her hands, he said,

“She’s extremely lucky she followed the instructions or deadly force would have been used,” Pare told The Associated Press. “And she’s lucky to be in a cell as opposed to the morgue.”