The recent scandals in Washington and the passage of legislation to ban congressional “insider” stock trading caused me to unearth an old memo that I’d sent to federal authorities some time ago, because it seemed quite plausible that a Los Angeles Superior Court judge might very well have had advance knowledge of impending stock [...]
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Finally, felony convictions for an insider trading hedge fund parasite. He could spend the rest of his life in prison and so should thousands of other Wall Street criminals. Gupta is a Goldman board member and former CEO of major corporate consulting firm McKinsey. By all accounts, they have him nailed. In September 2008, Gupta disconnected from a Board conference call, in which he learned about the Buffet deal [to invest in Goldman], at 3:56 p.m. By 3:57, he was on the phone [...] All have ties with or were ex-managers at SAC, the real target of the investigations and a very big fish indeed. Two of those charged face long prison terms and are cooperating with prosecutors. Winifred Jiau was arrested on federal charges of selling insider information to hedge funds for $200,000. This is the latest in a series of arrests, moving up the food chain to the big dogs. There will be obvious pressure on Jiau to tell the feds all she knows in return for lesser charges. Tell me [...] [Charles Gasparino] says the insider trading investigation is like a mob bust; the Justice Department and the FBI are using the same techniques they use against mobs and terrorists. “There is a gentleman in the middle they want to snare.” Many believe this is Steve Cohen, head of SAC Capital, and a very big [...] Don Chu of Primary Global was arrested this morning at 6 am on conspiracy charges by the FBI. May there be many more criminal arrests. And the feds are apparently investigating Goldman Sachs too. Be still my heart! I suspect that many thousands of Wall Street banksters and corrupt hedge fund slime will be having [...] Wall Street, on a good day Two of the funds have links to biggie Steve Cohen’s monster SAC hedge fund and many assume he is a primary target. Maybe the corruption and ooze of slime around Wall Street and Greenwich CT has finally become so intolerable that the feds really are acting. But only [...] From the WSJ article on the huge insider trading probe. One of those being investigated emailed his clients saying: “Today two fresh faced eager beavers from the FBI showed up unannounced (obviously) on my doorstep thoroughly convinced that my clients have been trading on copious inside information,” the email said. “(They obviously have been recording [...] This for the biggest hedge fund insider trading case ever. He had to give back $900,000 in ill-gotten gains but that’s all. This seems a slap on the wrist to me. Oh sure, he went boo hoo hoo at the trial, but when he gets out will still probably still have millions. This is justice? [...] |  | ||||
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