An E. F. Hutton & Co. executive was arrested.

Andy Yurowitz, 52, was arrested in New York by Internal Revenue Service agents on charges of helping launder $450,000 in drug money, authorities said. Yurowitz, a vice president for Hutton’s Atlantic region, was arrested on an indictment issued by a federal grand jury in Orlando, Fla., and was released on $100,000 bail. His attorney said he will plead innocent to charges of concealing the origin of illegal money.