Skip to comments.U.S. poised to bring more insider trading cases
Posted on 10/20/2009 9:47:58 AM PDT by TigerLikesRooster
U.S. poised to bring more insider trading cases
By Svea Herbst-Bayliss and Rachelle Younglai
Mon Oct 19, 10:38 pm ET
BOSTON/WASHINGTON (Reuters) Fresh from laying charges in the largest hedge fund insider trading case in history, U.S. federal investigators are poised to bring further "significant" cases.
The targets will include financial professionals also involved in insider trading, a source familiar with the matter said. It was not immediately clear whether the new cases will be related to the one that ensnared hedge fund founder Raj Rajaratnam and executives from some of the largest U.S. companies.
On Friday, billionaire Raj Rajaratnam, who established Galleon Group in 1997, was charged with having used a network of company insiders to tip him off to information that netted $20 million in illegal profits between 2006 and 2009.
(Excerpt) Read more at news.yahoo.com ...
Good.To bad they don’t go after the political class that does the samething.
If someone had the time to research I would bet that all of these being charged finally; are all non-Obama campaign contributers, so Holder can make it LOOK like they are doing something but pay people to blog against conservatives in their basement.
Political class is serving itself. They are getting tired of the Wallstreet fat cats taking all the loot!
Wallstreet got in bed with the Feds so it serves them right. I just want to say to them “hows that relationship workin out for ya?”
This certainly opens the door wider for the Feds to claim the urgency of controlling the financial sector.
while the world’s most famous inside trader, George Soros, walks about a free man