4 Arrested in Insider Trading Investigation

[Joanne98]

Source: NYT

The F.B.I. has arrested four people in connection with a long-term insider trading investigation it is conducting with federal prosecutors in Manhattan. A fifth person has pleaded guilty.

The defendants were identified as Walter Shimoon, Mark Longoria, Manosha Karunatilaka and James Fleishman. They are accused of conspiring to provide confidential information to investors.

Mr. Fleishman, 41, of Santa Clara, Calif., served as a sales manger for an expert-network firm, Primary Global Research. Prosecutors say the firm paid more than $400,000 to four employees of tech companies who provided confidential company information on calls with the firm’s clients.

Federal prosecutors also announced that Daniel DeVore, a former global supply manager for Dell who worked as a consultant for Primary Global, entered a guilty plea last week to charges of wire fraud and conspiracy. He is cooperating with investigators.



Read more: http://dealbook.nytimes.com/2010/12/16/four-arrested-in-insider-trading-investigation/?partner=rss&emc=rss

[RUMMYisFROSTED]

1. Ooooh!

A sales manager!

:woohoo:

[Joanne98]

6. LOL

[Creative]

2. What I would like to see some members of Congress indicted for the same thing.

In any case, if these guys are guilty, the need to be put in a cage for a very, very long time.

[DCKit]

4. Apparently, Congress has made their own insider trading legal.

Just something I heard here on DU, but it would explain the holdings of those on committees overseeing the corporations in which they hold stock. Not to mention the fact that most members of Congress actually MADE money over the past several years, while the rest of the peons lost their asses.

[Creative]

10. Indeed, and this is one of those things that ensures that we will forever

have a corrupt government.

Like the ongoing and upcoming debates on taxes, nothing will ever change that limits their power.

[Dappleganger]

5. +1000000

Too bad they made up their own rules.

[Creative]

11. Yes, and as soon as looks like some of us might score,

they simply change the rules or move the goal posts.

[Dappleganger]

12. They don't live in the worker's world.

[Kingofalldems]

3. K and R

[Mnemosyne]

7. Token small fry. blech. knr n/t

[progressoid]

8. There, wallstreet is fixed.

[Anakin Skywalker]

9. Wall Street Bankster Scums! The teabaggers worship these types!