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12/01/2010
Taken Aback By the Government's Insider Trading Probe?
10/21/2009
Galleon SEC Complaint, NY State Charging Docs - Online Now
The SEC's got a brag page up devoted to the Galleon prosecutions. Included there, you'll find a summary of the case, a chart showing how the insider trading scheme operated as well as the commission's complaint against the firm. If you haven't reviewed it yet, well worth a look.
Also, you'll want to check out the New York State charging documents filed against other players in this multi-million dollar drama (via the White Collar Crime Prof Blog).
-- MDT
src="http://pagead2.googlesyndication.com/pagead/show_ads.js">
12/11/2008
Pequot Insider Trading Case Gets Another Look
Russia Cracking Down on Insider Trading 11/10/2008
Insider Trading Charges Face Deloitte
Former UBS Exec Gets Six and a Half Years on Insider Trading Conviction
Countrywide Exec, Mozilo Faces SEC Probe 7/30/2008
FSA Continues Enforcement Binge 7/14/2008
Airbus Probe Continues to Eat Executives
Airbus Chief Nabbed on Insider Trading Charges 4/30/2008
A Quarter of Public Trades in the UK Don't Pass Sniff Test
Insider Trading Investigated at Deutsche Bank 2/27/2008
More Streeters Cop to Insider Trading
Credit Suisse Banker Convicted on Insider Trading
Traders Talk Tough on FSA Rough Play
FSA Brings First Criminal Insider Trading Probe
WSJ Look at Chinese Walls and Investment Banking
Morgan Stanley Analyst and Spouse Sentenced for Insider Trading 10/18/2007
SEC Eyes Countrywide CEO Stock Sales
French President Implicated in Insider Trading Scheme
Taken Aback By the Government's Insider Trading Probe?
Not if you've been following The Daily Caveat for any length of time... This investigation has been in the works for quite some time and some familiar names, like Gerson Lehrman, have recently re-emerged.
The early heat had come from the NY AG's office, which sent out subpoenas back in 2007 and there was a brief little mention of a parallel Federal probe. That shoe, it seems has well and truly dropped.
The early heat had come from the NY AG's office, which sent out subpoenas back in 2007 and there was a brief little mention of a parallel Federal probe. That shoe, it seems has well and truly dropped.
Labels: expert networks, Gerson Lehrman Group, insider trading
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Galleon SEC Complaint, NY State Charging Docs - Online Now
The SEC's got a brag page up devoted to the Galleon prosecutions. Included there, you'll find a summary of the case, a chart showing how the insider trading scheme operated as well as the commission's complaint against the firm. If you haven't reviewed it yet, well worth a look.
Also, you'll want to check out the New York State charging documents filed against other players in this multi-million dollar drama (via the White Collar Crime Prof Blog).
-- MDT
src="http://pagead2.googlesyndication.com/pagead/show_ads.js">
Labels: Anil Kumar, Danielle Chiesi, Galleon, IBM, insider trading, Mark Kurland, New Castle Funds, Raj Rajaratnam, Rajiv Goel, Robert Moffat
Pequot Insider Trading Case Gets Another Look
Some new details have emerged about this controversial SEC insider trading investigation, courtesy of former Pequot employee, David Zikha's divorce proceedings. The filings show that Zikha, who joined Pequot from Microsoft back in 2001 received a nearly $2 million payment from Pequot and was still owed another $700,000 due this April.
No explanation was given for exactly what Zikha was being compensated. There has already been more than a suggestion that Zikha was hired by Pequot specifically because of the information he could offer about Microsoft and it appears that Zikha was unceremoniously dumped by Pequot once his sources at his former employer had been tapped out.
Apparently both Zikha and the folks at Pequot have been working hard to keep the trial proceedings locked down, but the Senate Judiciary Committee, which as been monitoring the case was able to obtain he Zikha financial docs from the court. Interesenté... Lots more here, at FinAlternatives.
--MDT
12/03/2008
No explanation was given for exactly what Zikha was being compensated. There has already been more than a suggestion that Zikha was hired by Pequot specifically because of the information he could offer about Microsoft and it appears that Zikha was unceremoniously dumped by Pequot once his sources at his former employer had been tapped out.
Apparently both Zikha and the folks at Pequot have been working hard to keep the trial proceedings locked down, but the Senate Judiciary Committee, which as been monitoring the case was able to obtain he Zikha financial docs from the court. Interesenté... Lots more here, at FinAlternatives.
--MDT
Labels: Arthur Samberg, David Zikha, insider trading, Pequot Capital
Russia Cracking Down on Insider Trading 11/10/2008
Insider Trading Charges Face Deloitte
All eyes are on Thomas Flanagan, a former Deloitte VP who resigned a few weeks back, rather abruptly. On October 29th Delottie filed suit against Flanagan for allegedly buying stock in an unnamed company (Option Care, Inc.) just a week before a Deloitte client (Walgreens) announced their acquisition of the firm.
Deloitte had been the auditing firm contracted to review the deal. Falanaga had been the Deloitte client contact on the matter. In their lawsuit Deloitte claims ignorance of this an other questionable conduct on Flanagan's part - at least until regulators began asking them questions.
For more on the Flanagan case, check out The Chicago Tribune.
-- MDT
11/06/2008
Deloitte had been the auditing firm contracted to review the deal. Falanaga had been the Deloitte client contact on the matter. In their lawsuit Deloitte claims ignorance of this an other questionable conduct on Flanagan's part - at least until regulators began asking them questions.
For more on the Flanagan case, check out The Chicago Tribune.
-- MDT
Labels: Deloitte, insider trading, Thomas Flanagan
Former UBS Exec Gets Six and a Half Years on Insider Trading Conviction
Not the best week for Mitchel Guttenberg, who plead guilty back in February and is now facing a stout sentence of 6 and a half years for his role in a massive insider trading ring.
-- MDT
8/13/2008
-- MDT
Labels: insider trading, Mitchel Guttenberg, UBS
Countrywide Exec, Mozilo Faces SEC Probe 7/30/2008
FSA Continues Enforcement Binge 7/14/2008
Airbus Probe Continues to Eat Executives
Andreas Sperl is the latest to get wrapped up in the insider trading probe of aerospace giant, EADS. 17 current and former executives have been targeted for investigation, so expect more names and more arrests.
-- MDT
7/02/2008
-- MDT
Labels: Airbus, Andreas Sperl, insider trading
Airbus Chief Nabbed on Insider Trading Charges 4/30/2008
A Quarter of Public Trades in the UK Don't Pass Sniff Test
So claims the FSA.
Their key metric - informed price movements prior to public takeovers - up 5% since 2005.
-- MDT
4/23/2008
Their key metric - informed price movements prior to public takeovers - up 5% since 2005.
-- MDT
Labels: FSA, informed price movements, insider trading
Insider Trading Investigated at Deutsche Bank 2/27/2008
More Streeters Cop to Insider Trading
Former USB institutional client manager, Mitchel Guttenberg, and his literal partner in crime, David Tavdy - formerly of Assent - recently plead guilty in a New York court to conspiracy and securities fraud.
These two Wall-Streeters make 12 of 13 guilty pleas from individuals fingered last March as participants in a massive insider trading ring.
Lucky number 13 (well, we actually counted fourteen), Samuel Childs another former Asset broker has plead not guilty, with a trial set for June.
2/04/2008
These two Wall-Streeters make 12 of 13 guilty pleas from individuals fingered last March as participants in a massive insider trading ring.
Lucky number 13 (well, we actually counted fourteen), Samuel Childs another former Asset broker has plead not guilty, with a trial set for June.
Labels: Bear Stearns, David Tavdy, insider trading, Mitchel Guttenberg, USB
Credit Suisse Banker Convicted on Insider Trading
Hafiz Naseem, a former Credit Suisse investment banker, has been found guilty 28 counts of insider trading in relation to the TXU takeover. Naseem was taken into immediate custody as a potential flight risk. And while his lawyer is talking appeal, Naseem's conviction is worth a few decades in prison, pending sentencing.
The whole TXU debacle is quite the interesting case. I encourage you to check out the tags below for the background.
-- MDT
1/24/2008
The whole TXU debacle is quite the interesting case. I encourage you to check out the tags below for the background.
-- MDT
Labels: Ajaz Rahim, Conviction, Credit Suisse, Hafiz Naseem, insider trading, TXU Corp
Traders Talk Tough on FSA Rough Play
Apparently, they aren't impressed with the FSA's first criminal prosecution, even though market watchers are saying that the effects could be wide-ranging...
-- MDT
1/23/2008
-- MDT
Labels: FSA, insider trading
FSA Brings First Criminal Insider Trading Probe
UK's Financial Services Authority is apparently considering, for the first time, using its power to bring criminal charges for financial crimes. Typically the regulator has opted to rely on civil penalties but a recent case has prompted a bit of butching up on the part of the FSA.
The unlucky ne're-do-wells taking the brunt of the FSA's man-up are Christopher McQuoid and James William Melbourne who stand accused of insider trading on shares of TTP Communications, ahead of an announcement that the firm was to be acquired by Motorola. McQuoid was, at the time, general counsel for TTP.
Both gentlemen are out on bail at the moment, with a court date set for Feb 19th.
Further details via the Financial Times.
-- MDT
1/14/2008
The unlucky ne're-do-wells taking the brunt of the FSA's man-up are Christopher McQuoid and James William Melbourne who stand accused of insider trading on shares of TTP Communications, ahead of an announcement that the firm was to be acquired by Motorola. McQuoid was, at the time, general counsel for TTP.
Both gentlemen are out on bail at the moment, with a court date set for Feb 19th.
Further details via the Financial Times.
-- MDT
Labels: Christopher McQuiod, FSA, insider trading, James Melbourne, Motorola, TTP Communications
WSJ Look at Chinese Walls and Investment Banking
No, not the one you can see from space. The other kind that supposedly compartmentalize information within an organization preventing conflicts of interest. Apparently when it comes to investment banks, this process doesn't work very well.
While they are not supposed to trade on inside information generated by their own work sometimes investment banks, at the very least, seem to get pretty darn lucky at predicting what the other hand is doing... Lucky enough to attract the attention of regulators, that is.
See also: The Dark Role of Investment Banks in the Market for Corporate Control
--MDT
12/05/2007
While they are not supposed to trade on inside information generated by their own work sometimes investment banks, at the very least, seem to get pretty darn lucky at predicting what the other hand is doing... Lucky enough to attract the attention of regulators, that is.
See also: The Dark Role of Investment Banks in the Market for Corporate Control
--MDT
Labels: chinese walls, insider trading, investment banks, WSJ
Morgan Stanley Analyst and Spouse Sentenced for Insider Trading 10/18/2007
SEC Eyes Countrywide CEO Stock Sales
The WSJ has details.
An aside: Blogging while holding baby = short posts...
-- MDT
10/04/2007
An aside: Blogging while holding baby = short posts...
-- MDT
Labels: Countrywide, insider trading
French President Implicated in Insider Trading Scheme
French politics may not be your bag, but this is an interesting piece from the Times of London.
-- MDT
-- MDT
Labels: AMF, France, insider trading, Nicolas Sarkozy
