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October 11, 2008 2:24:02 AM CDT

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Stories related to: insider trading

Stories

18 Stories

  • May 2008

    • Feds Hunt for Scams in Crude Oil Trading

      Wall Street Journal  |  May 30, 08 7:55 AM CDT

      Feds Hunt for Scams in Crude Oil Trading

      (Newser) - Federal regulators are investigating whether rocketing oil prices are being driven up by speculators manipulating futures markets, reports the Wall Street Journal. The nationwide probe involves several separate investigations. Authorities suspect that a widely used price reporting system may be artificially influenced and that some oil storage facilities may be falsely reporting supplies. More »

  • March 2008

    • Ex-Qwest CEO's Conviction Overturned

      Denver Post  |  Mar 17, 08 3:35 PM CDT

      Ex-Qwest CEO's Conviction Overturned

      (Newser) - A federal appeals court overturned Joe Nacchio’s guilty verdict today and ordered a new trial for the ex-Qwest CEO before a different judge, the Denver Post reports. The court ruled that the district judge who presided over Nacchio's trial on insider trading charges erred in excluding testimony from an expert witness who teaches law at Northwestern. More »

      Tags

      insider trading  • Qwest  • Joseph Nacchio  • tech bubble  • appellate court  • overturned verdict

  • February 2008

    • Trader Won't Be SocGen's 'Scapegoat'

      AFP  |  Feb 5, 08 3:28 PM CST

      Trader Won't Be SocGen's 'Scapegoat'

      (Newser) - Jerome Kerviel will not “be made a scapegoat” for the huge losses at Société Générale, he told AFP today in his first public comments since his trading scheme was discovered. Kerviel said he had been “designated” as the sole wrongdoer by the French bank, which he claims turned a blind eye so long as he was making profits. More »

      Tags

      France  • Société Générale  • Jérôme Kerviel  • insider trading  • rogue trader

  • January 2008

    • FBI Targets 14 Firms in Subprime Fraud Probe

      Wall Street Journal  |  Jan 30, 08 6:26 AM CST

      FBI Targets 14 Firms in Subprime Fraud Probe

      (Newser) - The FBI is investigating 14 companies linked to the subprime mortgage crisis, the Wall Street Journal reports. The bureau is pursuing allegations including accounting fraud  and insider trading, said a bureau spokesman. An investigation into the complex secondary mortgage market could implicate major firms that have lost billions of investor dollars on mortgage securities, according to an agent. The companies were not named. More »

      Tags

      FBI  • business  • subprime crisis  • mortgage  • bank  • financial institutions  • insider trading

    • SEC Opens ABN Amro Insider Trading Probe

      CNN  |  Jan 23, 08 11:42 AM CST

      SEC Opens ABN Amro Insider Trading Probe

      (Newser) - The US Securities and Exchange Commission has opened an inquiry into possible insider trading surrounding last year's takeover of Dutch bank ABN Amro. Holland's Financieele Dagblad r eports that Fortis, Barclays, Santander, and Royal Bank of Scotland—which eventually won the bidding—have been asked for information about trading in ABN stock before and during the takeover battle. More »

      Tags

      mergers and acquisitions  • SEC  • Barclays  • insider trading  • Royal Bank of Scotland  • Banco Santander  • ABN Amro

  • December 2007

    • Feds Investigate Bear Stearns Fund Manager

      Bloomberg  |  Dec 19, 07 12:00 PM CST

      Feds Investigate Bear Stearns Fund Manager

      (Newser) - The manager of hedge funds that lost $1.6 billion when they went bankrupt in July has left Bear Stearns, and federal investigators are looking into whether he withdrew his own money before the collapse. Ralph Cioffi moved $2 million in March—before the funds tanked in the subprime collapse—to another Bear offering, Bloomberg reports; the feds are investigating. More »

      Tags

      subprime mortgages  • Bear Stearns  • SEC  • hedge fund  • insider trading

  • October 2007

    • Oracle CEO Sells Off $500M, With More To Come

      Wall Street Journal  |  Oct 31, 07 11:10 AM CDT

      Oracle CEO Sells Off $500M, With More To Come

      (Newser) - The CEO of Oracle sold off half a billion dollars of stock, but analysts contend that the liquidation shouldn't worry investors. Markets noticed when Larry Ellison sold 26 million shares of the software company he founded in 1977. But the Wall Street Journal writes that past sell-offs haven't triggered broad declines - and Ellison plans to unload another 76 million shares in coming months. More »

      Tags

      Oracle  • insider trading  • Larry Ellison  • stock options

    • Insider Trading May Have Net Variant

      Associated Press  |  Oct 24, 07 1:39 PM CDT

      Insider Trading May Have Net Variant

      (Newser) - Someone call Michael Milken: Insider trading trailblazers may have found a new perch online. ICANN is investigating a poaching practice it's calling “front running,” in which buyers with inside information grab desirable domain names before others can register them. Speculation on the shadowy URL snatchers runs to viruses and other software that monitor interest in available domains, the AP reports. More »

      Tags

      Internet  • insider trading  • domain names  • computer virus  • ICANN  • Michael Milken

    • SEC Looks Into Countrywide Stock Sales

      Wall Street Journal  |  Oct 17, 07 10:06 PM CDT

      SEC Looks Into Countrywide Stock Sales

      (Newser) - The CEO of troubled mortgage lender Countrywide is under investigation over stock sales, the Wall Street Journal reports. Angelo Mozilo sold at least $130 million this year of stock in a company deeply affected by the subprime mortgage mess; the Securities and Exchange Commission is looking into several aspects of Countrywide's operation, including executive stock sales. More »

      Tags

      Countrywide  • insider trading  • white collar crime  • Angelo Mozilo

    • Ex-Qwest CEO Claims Spy Effort Began Before 9/11

      Washington Post  |  Oct 13, 07 9:34 AM CDT

      Ex-Qwest CEO Claims Spy Effort Began Before 9/11

      (Newser) - Joseph Nacchio, the former CEO of Qwest Communications, claims that the National Security Agency asked his company in February, 2001, to participate in a potentially illegal surveillance program—and when he declined, punished the company by dropping a contract worth hundreds of millions of dollars, reports the Washington Post . The allegation puts NSA's move to get access to Americans' phone records without a warrant six months before 9/11. More »

      Tags

      warrantless wiretapping  • insider trading  • National Security Agency  • Qwest  • Joseph Nacchio

    • Ex-Qwest CEO Didn't Foresee Trouble Ahead

      Wall Street Journal  |  Oct 10, 07 11:54 AM CDT

      Ex-Qwest CEO Didn't Foresee Trouble Ahead

      (Newser) - Former Qwest chief Joseph Nacchio yesterday appealed an insider-trading conviction, claiming he couldn’t have known the telecommunications company was in dire straits when he sold $52 million in stock in 2001. Rebutting a federal court’s guilty finding on 19 counts, the brief asserts Nacchio “believed more than anyone else in the company’s future,” the Wall Street Journal reports.  More »

      Tags

      prison  • insider trading  • appeal  • Qwest  • Joseph Nacchio

    • Airbus Execs Accused of Insider Trading

      Daily Telegraph (UK)  |  Oct 4, 07 9:05 AM CDT

      Airbus Execs Accused of Insider Trading

      (Newser) - Accusations of "massive" insider trading by Airbus executives and shareholders have exploded into full-out political scandal. French investigators have learned that 21 top executives and two big shareholders in EADS, the Franco-German consortium that owns the airplane company, cashed in stocks shortly before Airbus announced a June, 2006, production delay for its A380. The setback caused shares to drop 30% in one day. More »

      Tags

      France  • Airbus  • insider trading  • Airbus A380  • EADS

  • August 2007

    • Top Telecom Exec Takes Over As Qwest CEO

      Wall Street Journal  |  Aug 13, 07 7:24 AM CDT

      Top Telecom Exec Takes Over As Qwest CEO

      (Newser) - A top telecom veteran has been named CEO of struggling Qwest. Edward Mueller, 60-year-old former chief executive of Ameritech and Williams-Sonoma, takes the reins  from Dick Notebaert, who ran the company for five years, the Wall Street Journal   reports. The country's fourth-largest telephone company, Qwest faces increased pressure from competitors as it struggles to emerge from an accounting scandal. More »

      Tags

      insider trading  • Qwest  • Joseph Nacchio  • Williams Sonoma

  • July 2007

    • Ex-Qwest CEO Gets 6 Years

      Bloomberg  |  Jul 27, 07 5:43 PM CDT

      Ex-Qwest CEO Gets 6 Years

      (Newser) - Qwest's former CEO was sentenced to 6 years in prison today for engaging in insider trading while the company's stock plummeted. Joseph Nacchio committed "crimes of overarching greed,'' a federal judge in Denver said as he fined him $19 million in addition to the $52 million he must forfeit, then denied Nacchio's request for both probation and bail. More »

      Tags

      scandals  • prison  • sentencing  • telecom  • insider trading  • Qwest  • Joseph Nacchio

    • Dow Jones Director Faces Insider Trading Charges

      Wall Street Journal  |  Jul 18, 07 6:32 PM CDT

      Dow Jones Director Faces Insider Trading Charges

      (Newser) - The Securities and Exchange Commission plans to file civil charges against Dow Jones board director David Li,  in an insider trading case linked to News Corp.'s bid for the company. As a board member, Li has access to inside information, the Wall Street Journal reports. He also has ties to a Hong Kong couple already charged with insider trading. More »

      Tags

      Dow Jones  • Rupert Murdoch  • Wall Street Journal  • insider trading

  • May 2007