The Gupta insider trading case is a significant,
high profile action by an SEC Enforcement program which is working hard to
restore its lost luster. Mr. Gupta is a former Goldman Sachs director, a firm
which is an icon of Wall Street. He is a current director of Proctor and
Gamble, a company with...
No Big 4 audit firms or their partners have been named in
the insider trading scandal surrounding the now-defunct hedge fund Galleon
Management. But the SEC has accused one of the most prominent businessmen ever
implicated in such crimes, Rajat Gupta, a former McKinsey & Company Global
Raj Rajaratnam was found guilty on all fourteen counts
of conspiracy and insider trading. U.S. v. Rajaratnam , Case No.
1:09-cr-0118 (S.D.N.Y.). The fact that the founder of the Galleon hedge fund
was found guilty despite a valiant effort by the defense team should not be a
huge surprise to anyone...
If you read about the evidence, you can't really be
surprised that Raj Rajaratnam was found guilty of insider trading. That he was
found guilty on all counts was mildly interesting, but not much.
We may get some interesting new legal developments in
insider trading law from the appellate decisions...
This week three Galleon related defendants were sentenced
to prison for insider trading, including Raji Rajaratnam. The Commission filed
another significant market crisis case naming the senior officers of a failed
bank as defendants. The Commission also filed a settled insider trading case,
You could watch the movie Wall
Street and many things may still ring true. Of course its the 1980s, so
the clothes and the women's hair stick out. But the icon is the big brick cell
phone. It was huge and expensive for its time. And all it did was makes phone
calls. It was enough of an iconic...
NEW YORK — (Mealey’s) A federal judge in New York on July 17 ordered a former Goldman Sachs Group Inc. director to pay a $13.9 million penalty to settle claims with the Securities and Exchange Commission that he provided inside information to a former hedge fund manager as part of an insider...