Free Republic

The United States government is preparing to charge SAC Capital, the multi-billion dollar hedge fund operated by the reclusive Wall Street trading legend Steven A. Cohen, with criminal charges, according to multiple reports. Manhattan-based federal prosecutors, working in conjunction with the FBI, are poised to move against the massive hedge fund as early as this week. On Wall Street, this type of criminal charge amounts to a death sentence, because few major clients would be willing to invest money with a firm under federal indictment. It’s possible that lawyers for Cohen, a secretive 57-year-old billionaire with lavish tastes in art...

Wall Street’s crime spree has been coming at the public for the past six years like a geyser spewing from a broken water main.**snip** On June 28, 2006, Gary Aguirre, a former SEC attorney, testified before the U.S. Senate on the Judiciary. During his final days at the SEC, Aguirre had pressed to serve a subpoena on John Mack, the powerful former official at Morgan Stanley. Aguirre wanted to take testimony about Mack’s potential involvement in insider trading. Mack was protected — Aguirre was fired via a phone call while on vacation — just three days after contacting the Office...

The inmates are running the asylum and locking up the guards. When the media first began to spin the raid on the president's lawyer, they claimed that it had been approved by a Trump appointee. Of course it hadn't. It came from Rosenstein on one end. And Trump's appointee had recused himself. That left his deputy, an Obama holdover. Robert Khuzami. And there are reports that he allegedly made the decision. Khuzami was in charge of SEC enforcement under Obama. He did speak at the RNC convention in '04 in support of the Patriot Act and donated to McCain in...

WASHINGTON -- The Securities and Exchange Commission tapped Goldman Sachs Group Inc. executive Adam Storch on Friday to serve as the agency's first-ever chief operating officer of the enforcement division. The new hire represents the latest personnel change at the SEC in its effort to improve its operations following its failure to detect Bernard Madoff's massive Ponzi scheme. Enforcement Division Director Robert Khuzami created Mr. Storch's position of managing executive as part of the major re-structuring effort he announced earlier this year. Mr. Storch will oversee division operations that include budget, information technology and administrative services. He will also supervise...