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SEC Charges 14 in Wall Street Insider Trading Ring

Uncle Max

Uncle Max

Joined
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731
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Washington, D.C., March 1, 2007:

The U.S. Securities and Exchange Commission today charged 14 defendants in a brazen insider trading scheme that netted more than $15 million in illegal insider trading profits on thousands of trades, using information stolen from UBS Securities LLC and Morgan Stanley & Co., Inc. The SEC complaint alleges that eight Wall Street professionals, including a UBS research executive and a Morgan Stanley attorney, two broker-dealers and a day-trading firm participated in the scheme. The defendants also include three hedge funds, which were the biggest beneficiaries of the fraud.
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Full text at SEC's web site:
http://www.sec.gov/news/press/2007/2007-28.htm
 
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