Skip to: Content
Skip to: Site Navigation
Skip to: Search
SUNDAY, NOVEMBER 8, 2009
| Subscribe to Newser's RSS feeds RSS | Follow Newser on Twitter Twitter

NEWS ABOUT: insider trading

insider trading stories: 32 news summaries

1 - 20 of 32 Stories | 1 2 Next >>

Switch to grid view »

14 Charged as Galleon Insider Trading Case Widens

Feds finger Rajaratnam associates, lawyer

Nov 5, 09 1:13 PM CST
(Newser) - Two former Galleon Group employees and a Ropes & Gray lawyer were among 14 people charged today in the expanding insider trading case surrounding the hedge fund founded by Raj Rajaratnam, who was busted last month. The traders and lawyers snuck around, communicating in code over throwaway cellphones, but had... More »

MORE ABOUT:
Wall Street • US attorney • FBI • insider trading • Raj Rajaratnam • Galleon Group • Preet Bharara

 Feds Missed 
 Galleon Warning Signs 

JPMorgan warned that fund dealt in 'grey areas'

Oct 30, 09 10:10 AM CDT
(Newser) - The government says its star witness, Roomy Khan, was the first person to pass inside info to Galleon Group honcho Raj Rajaratnam, and went on to become a central part in his operation. Which is awkward, because Khan was prosecuted in 2000 for passing insider information to someone at Galleon—... More »

MORE ABOUT:
insider trading • JPMorgan Chase • Raj Rajaratnam • Galleon Group • Roomy Khan

Canadian Insider Trading Scheme Ends in Suicide

The sad tale of two greedy friends and their last, biggest score

Oct 29, 09 12:59 PM CDT
(Newser) - When Stanko Grmovsek pled guilty to criminal charges stemming from his insider trading activity on Tuesday, it ended a paperback-worthy tale of friendship and deceit, Reuters reports in an in-depth look at the biggest insider trading scheme in Canadian history. A day before his plea, Grmovsek’s co-conspirator and best... More »

MORE ABOUT:
suicide • Canada • insider trading • Gil Cornblum • Stanko Grmovsek

Feds: NY Hedge Fund Boss Funded Terror

Donations were funneled to Tamil Tigers

Oct 19, 09 1:20 AM CDT
(Newser) - A hedge-fund manager busted for insider trading has been contributing money to a Sri Lankan terrorist group, according to FBI agents. Raj Rajaratnam came under scrutiny in a federal probe into the Tamil Rehabilitation Organization, a charity which was charged with funneling money to the Liberation Tigers of Tamil Eelam,... More »

MORE ABOUT:
terrorism • tsunami • insider trading • Sri Lanka • Tamil Tigers • SEC • Raj Rajaratnam

Look Out, Wall Street:
Feds Using Wiretaps Now

Insider trading case against Galleon is first to use the tactic

Oct 17, 09 1:04 PM CDT
(Newser) - The bad boys of Wall Street better watch their mouths. Federal prosecutors used wiretaps to make their case against hedge fund giant Raj Rajaratnam this week, and they plan to use them again in similar investigations. Wiretaps may be common when going after the mafia, say, or terrorists, but their... More »

MORE ABOUT:
Wall Street • insider trading • hedge fund • wiretap • wiretapping • Raj Rajaratnam • Galleon Group

Hedge Fund Founder Nabbed for Insider Trading

Raj Rajaratnam's $3B Galleon Group trades tech stocks

Oct 16, 09 11:03 AM CDT
(Newser) - The founder of a $3 billion hedge fund and two other financial executives have been charged with insider trading, the Business Insider reports. Raj Rajaratnam, whose Galleon Group focuses on high tech stocks, was charged with conspiracy and fraud related to trades of Hilton and Google stock, among others. Execs... More »

MORE ABOUT:
insider trading • SEC • hedge fund • conspiracy • bank fraud • criminal charges • Securities and Exchange Commission • Raj Rajaratnam • Galleon Group

Insider Trading Probe Targets 2 SEC Officials

Lawyers at regulator alleged to have traded financial stocks

May 15, 09 8:12 AM CDT
(Newser) - Two lawyers with the SEC are under federal investigation for alleged insider trading, Reuters reports. The SEC's internal watchdog claims that they traded stock in a large financial services company, despite warnings from other employees that the company was under investigation. One of the two works in the SEC's Office... More »

MORE ABOUT:
insider trading • SEC • financial sector • financial stocks • Inspector General • Securities and Exchange Commission

(Newser) - The long slide from the top continues for former Countrywide chief Angelo Mozilo. Staffers at the SEC have recommended filing a civil suit against him on charges of fraud and insider trading, reports the Los Angeles Times. Countrywide had been the nation’s largest mortgage lender before it nearly... More »

MORE ABOUT:
fraud • insider trading • Countrywide Financial • Angelo Mozilo • Securities and Exchange Commission

20 Crime Probes Launched Into Bailout Fraud

Inspector calls TARP
'inherently vulnerable' to insider trading, abuse

Apr 21, 09 6:59 AM CDT
(Newser) - Federal authorities have begun 20 separate investigations into possible fraud, tax violations, insider trading, and other criminal activities surrounding Henry Paulson's $750 billion Troubled Asset Relief Program, reports the Los Angeles Times. It's only the first round of probes, according to the bailout program's inspector general, who called TARP "... More »

MORE ABOUT:
fraud • insider trading • Henry Paulson • bailout • Inspector General • Troubled Asset Relief Program • Wall Street bailout • TARP • toxic assets

analysis

Financial PR Firms
Walk a Thin Line


Dec 22, 08 6:24 PM CST
(Newser) - An insider trading case has exposed the potentially problematic relationship between PR companies and corporate clients, and it could have dire consequences for at least one firm, Reuters reports. A Lehman Brothers employee is charged with leaking merger information he got from his wife, a partner at the Brunswick Group... More »

MORE ABOUT:
insider trading • mergers and acquisitions • Lehman Brothers • public relations • confidential information • confidentiality • media strategy

SEC: Ex-Lehman Broker
Stole Inside Info From Wife

$4.8m conspiracy earned cash, luxe rewards

Dec 19, 08 7:54 AM CST
(Newser) - A former Lehman Brothers broker was charged yesterday in a $4.8 million insider trading scheme built on his PR-exec wife’s knowledge of upcoming mergers, the AP reports. Matthew Devlin passed information to friends and associates (including former Playboy model Maria Checa), and won cash, luxury goods, and tuition... More »

MORE ABOUT:
insider trading • SEC • conspiracy • Lehman Brothers • public relations • securities fraud

Execs Cashed Out as Subprime Giant Staggered

Irregular trades by execs at doomed subprime firm raise questions

Nov 26, 08 9:10 AM CST
(Newser) - Bosses at one of the country's biggest subprime lenders made some suspicious stock sales as the firm's mortgages soured, a Los Angeles Times investigation reveals. Records show that executives at now-bankrupt New Century Financial sold nearly $20 million in company shares shortly after setting up new trading plans, often within... More »

MORE ABOUT:
Department of Justice • executive compensation • insider trading • subprime mortgages • stock options • New Century Financial • subprime lender

China's Richest Man Vanishes Amid Probe

Tycoon was said to be under investigation for insider trading

Nov 26, 08 6:31 AM CST
(Newser) - China's biggest electronics retailer is trying to find out what happened to its founder, Marketwatch reports. Huang Guangyu, ranked the richest man in China in a recent report, has been not been seen since last week. The tycoon was being investigated for insider trading, but company representatives said government officials... More »

MORE ABOUT:
China • insider trading • corruption • disappearance • tycoon • Huang Guangyu

Mark Cuban Hit With
Insider-Trading Charges 

Owner of NBA's Dallas Mavericks accused in 2004 stock sale

Nov 17, 08 12:47 PM CST
(Newser) - Dallas Mavericks owner Mark Cuban was charged today with insider trading, the Dallas Morning News reports. The government alleges that, in 2004, Cuban spoke with the CEO of a company in which he held shares, and was told, confidentially, of a new stock offering that would dilute the value of... More »

MORE ABOUT:
NBA • stock market • Mark Cuban • Dallas Mavericks • insider trading • SEC • civil lawsuits • investor

 Feds Hunt for Scams
 in Crude Oil Trading 

Speculators may be driving up crude by manipulation

May 30, 08 7:55 AM CDT
(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... More »

MORE ABOUT:
insider trading • futures market • gas prices • oil price • Commodity Futures Trading Commission • New York Mercantile Exchange • Financial Services Authority • jet fuel • Bart Chilton • oil industry • Platts • McGraw-Hill • oil futures • Intercontintental Exchange

Ex-Qwest CEO's Conviction Overturned

Exclusion of expert testimony nets
Nacchio new trial

Mar 17, 08 3:35 PM CDT
(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... More »

MORE ABOUT:
Qwest • Joseph Nacchio • insider trading • reversed conviction • overturned verdict • tech bubble • appellate court

Trader Won't
Be SocGen's 'Scapegoat'

Kerviel breaks silence, says bank turned a blind eye to scheme

Feb 5, 08 3:28 PM CST
(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... More »

MORE ABOUT:
insider trading • France • Jérôme Kerviel • Société Générale • rogue trader

FBI Targets 14 Firms in Subprime Fraud Probe

Suspected cases of mortgage fraud up  in two years

Jan 30, 08 6:26 AM CST
(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... More »

MORE ABOUT:
FBI • insider trading • business • mortgage • bank • financial institutions • subprime crisis

SEC Opens ABN Amro Insider Trading Probe

European banks' transactions ahead of merger under scrutiny

Jan 23, 08 11:42 AM CST
(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 reports that Fortis, Barclays, Santander, and Royal Bank of Scotland—which eventually won the bidding—have been asked for information about trading in ABN... More »

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

Feds Investigate Bear Stearns Fund Manager

Insider-trading probe targets $2M move ahead of fund collapse

Dec 19, 07 12:00 PM CST
(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—... More »

MORE ABOUT:
insider trading • subprime mortgages • Bear Stearns • SEC • hedge fund • Ralph Cioffi

1 - 20 of 32 Stories | 1 2 Next >>


from our news partners