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Fri Feb 15, 2013, 05:20 PM

S.E.C. Acts on Suspicious Heinz Trading

Source: New York Times

Regulators investigating possible insider trading in the $23 billion takeover of H. J. Heinz have frozen a Goldman Sachs customer account linked to suspicious trades, according to a court filing on Friday.

In the filing made in Federal District Curt in Manhattan, the Securities and Exchange Commission took aim at a Zurich-based trading account that reaped $1.7 million in gains. The emergency action against anonymous traders, the S.E.C. said on Friday, will prevent the suspects from hiding their winnings or moving the money to another account.

The trading account belonged to a customer of Goldman. In its complaint on Friday, the S.E.C. referred to “GS Bank” and “GS & Co c/o Zurich Office,” an apparent reference to the bank.

Goldman on Friday said it was “cooperating with the S.E.C.’s investigation.” It has not been accused of any wrongdoing.

Read more: http://dealbook.nytimes.com/2013/02/15/s-e-c-acts-on-suspicious-heinz-trading/

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Reply S.E.C. Acts on Suspicious Heinz Trading (Original post)
IDemo Feb 2013 OP
Berlum Feb 2013 #1
monmouth3 Feb 2013 #2
TheMadMonk Feb 2013 #3
Bossy Monkey Feb 2013 #4
high density Feb 2013 #5

Response to IDemo (Original post)

Fri Feb 15, 2013, 05:39 PM

1. Big Food & Big Money = Big Sleazy Speculation.

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Response to IDemo (Original post)

Fri Feb 15, 2013, 05:41 PM

2. Well most of their bonuses were cut back...LOL...Do I need the sarcasm thingy?

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Response to IDemo (Original post)

Fri Feb 15, 2013, 05:58 PM

3. $1.7m is peanuts. Who's benefitting, that's not being watched?

 

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Response to IDemo (Original post)

Fri Feb 15, 2013, 06:07 PM

4. Anticipation?

(Forgive old Carly Simon-related TV commercial reference.)

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Response to IDemo (Original post)

Fri Feb 15, 2013, 06:21 PM

5. If they'd reaped $17 billion in returns it would be fine

Because then it would be too big to prosecute.

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