FBI Building Insider Trading Cases on 120 People

March 1st, 2012

Via: Herald Sun:

FEDERAL authorities are seeking to build insider trading cases against roughly 120 individuals on and off Wall Street in an expanding criminal insider trading investigation that has shaken the financial and corporate worlds.

The disclosure – the first time authorities have quantified the number of people under scrutiny – comes on the heels of a string of successful prosecutions of insider trading.

Since late 2009, prosecutors have charged 66 individuals at hedge funds and other companies with insider trading and won 57 convictions or guilty pleas.

“We’ve identified them, and now of course we have to build a case around that,” David Chaves, a senior FBI agent, said Monday in an interview following a presentation to reporters at FBI headquarters in Manhattan.

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One Response to “FBI Building Insider Trading Cases on 120 People”

  1. tal says:
    March 2, 2012 at 1:01 am

    Just like the ICC:go after the low-hanging fruit. Let’s start with the Bernie Madoff’s and go UP!

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