U.S. Charges 7 In Dell Insider Trading Case

January 19th, 2012 by admin

U.S. Charges 7 In Dell Insider Trading CaseSeven people have been charged by U.S. prosecutors with running a $62 million insider trading scheme. Making it one of the largest sweeps in the government’s investigation, the FBI in New York arrested four people and authorities announced previously secret charges against three others.

The prosecutors said the seven charged worked for five different hedge funds and investment firms and reaped nearly $62 million in illegal profits on trades in Dell Inc.

“It describes a circle of friends who essentially formed a criminal club, whose purpose was profit and whose members regularly bartered lucrative inside information,” Manhattan U.S. Attorney Preet Bharara said at a news conference.

Share and Enjoy:
  • Digg
  • del.icio.us
  • Facebook
  • Google Bookmarks
  • MySpace
  • Reddit
  • StumbleUpon
  • Diigo
  • FriendFeed
  • LinkedIn
  • Twitter
  • Netvibes
  • Technorati
  • Yahoo! Bookmarks
  • HealthRanker
  • Fark
  • Faves
  • Segnalo

Random Posts

Tags: , ,

This entry was posted on Thursday, January 19th, 2012 at 10:47 pm and is filed under News. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.

Leave a Reply