Thursday, December 01, 2011
By Anna Sale
Less than three weeks after a 60 Minutes piece focused the spotlight on insider trading in Congress and the loopholes that allow members of Congress to invest based on non-public information they glean while doing their jobs, a new bill sponsored by Sen. Kirsten Gillibrand is gaining traction.
Thursday, November 17, 2011
Congressional approval in the U.S. is at embarrassingly low levels. A recent New York Times/CBS News poll found Americans' approval of Congress in the single digits. And a story that aired on "60 Minutes" last weekend is not likely to improve Congress's standing with the public. Insider trading is a crime in the U.S., but the laws that apply to most Americans do not apply to their lawmakers. According to the report, powerful members of Congress and their staffs have used their knowledge of privileged information to make vast sums of money in the stock market.
Thursday, October 27, 2011
Former Goldman Sachs and Procter & Gamble board member, Rajat Gupta pleaded not guilty to six counts of securities fraud. The former CEO of McKinsey & Company consulting is the most prominent executive arrested in a multi-year investigation into what prosecutors claim is the biggest insider trading case in history.
Wednesday, October 26, 2011
Former Goldman Sachs director Rajat Gupta surrendered to FBI officials on Wednesday morning. Gupta faces criminal charges in a massive hedge fund insider trading case. He has been under investigation over whether he leaked corporate secrets to Raj Rajaratnam, the co-founder of the hedge fund the Galleon Group. Rajaratnam was sentenced to 11 years in prison for trading on illegal stock tips earlier this month. Louise Story, Wall Street and finance reporter for The New York Times, has the latest details on the story.
Thursday, June 02, 2011
The probe into insider trading continues to find new targets.
Thursday, April 28, 2011
The jury is now in its fourth day of deliberations in the biggest insider trading case involving hedge funds in U.S. history.
Tuesday, April 26, 2011
A jury has asked to listen again to wiretaps played during the largest insider trading case involving hedge funds in the U.S.
Monday, April 25, 2011
By Ilya Marritz
A jury began deliberations Monday in the high-profile insider trading case of hedge fund manager Raj Rajaratnam, a decision that will likely hinge on the jury's view of wire-tapped phone conversations played during the weeks long trial.
Tuesday, April 19, 2011
By Ilya Marritz
Six weeks after it began, the trial of hedge fund manager Raj Rajaratnam will enter its final phase Wednesday in a Manhattan courtroom.
Tuesday, March 15, 2011
Hedge fund boss Raj Rajaratnam, accused of insider trading, took a hit on a trade even though he had been tipped off, according to a government witness who testified in Manhattan court Tuesday.
Monday, March 07, 2011
Two years ago, the stock market fell to its lowest point in the financial crisis. Now it's like those bad old days on Wall Street never happened. We'll talk about where the markets have been and where they're going.
Wednesday, December 15, 2010
By Ilya Marritz
For well over a year, prosecutors have been investigating insider trading in the hedge fund industry. Last month, the FBI searched the offices of several funds in the New York area and arrested and charged a New Jersey man. The investigation has made use of a tool that makes many people on Wall Street uncomfortable: wiretaps.
Tuesday, November 30, 2010
Prosecutors with the Security and Exchance Commission say they received information sufficient to subpeona and raid a number of hedge funds last week from conversations recorded over wiretaps. According to a report in The New York Times, investigators enlisted the help of seven Wall Street insiders to tape over 500 people using tidbits of informal information to strike deals on the stock market. Is this "mosaic theory," as the expert network firms call it, or "insider trading"?