biggest Insider Trading arrest to date

Stock and Bond Fraud, including Boiler Rooms / Pump and Dump Schemes, Mutual Fund & Hedge Fund Fraud, FOREX scams, plus Churning, Private Placements, Venture and Bridge Funding, IPOs, Viaticals Fraud, HYIP and Prime Bank scams, MTNs, Historical Notes, Recovery Schemes, etc. Includes the Jim Norman Project and the Michael Dotson Project and similar HYIP scams.
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notorial dissent
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biggest Insider Trading arrest to date

Postby notorial dissent » Wed Nov 21, 2012 8:52 am

According to an Associated Press report, Mathew Martoma, a portfolio manager with CR Intrinsic Investors LLC of Stamford, CT part of SAC Capital Advisors which is/was owned by billionaire Steven A. Cohen, has been charged with massive insider trading. The SEC is alleging that he made more than $275 M on insider trading while he was with CR. He was arrested at his home in Boca Raton, made an initial appearance and was released on a bond of $5M by the West Palm Beach court. He was formally charged in Manhattan and again arrested on Monday. He is one of four CR employees who have been arrested for insider trading to date.

According to reports, the investigation is ongoing, and deepening.
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Re: biggest Insider Trading arrest to date

Postby Number Six » Sun Nov 25, 2012 8:21 pm

The NY Times is doing a good job of following this story, sir as well as other news sources. Whether they get to the bottom of this particular fraud will depend on whether they turn the screws enough on the right conspirators to get them to squeal on the whale...
'There are two kinds of injustice: the first is found in those who do an injury, the second in those who fail to protect another from injury when they can.' (Roman. Cicero, De Off. I. vii)

'Choose loss rather than shameful gains.' (Chilon Fr. 10. Diels)

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Re: biggest Insider Trading arrest to date

Postby Judge Roy Bean » Mon Nov 26, 2012 4:36 am

Number Six wrote:The NY Times is doing a good job of following this story, sir as well as other news sources. Whether they get to the bottom of this particular fraud will depend on whether they turn the screws enough on the right conspirators to get them to squeal on the whale...


What did Cohen do to piss off the Times?
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Number Six
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Re: biggest Insider Trading arrest to date

Postby Number Six » Tue Nov 27, 2012 7:28 pm

"The New York Times" is about the best the US produces in terms of journalism. The format of the paper and the team of top notch journalists is cutting edge in their coverage in what has been the financial hub of planet earth. Sure there are some nutty liberals on their payroll, Alessandra Stanley and Frank Rich come to mind, but they have been covering financial fraud longer than the other newpapers. Just because Mr. Cohen is CT's richest resident does not mean he gets a free pass when it comes to the law, but his teams of lawyers are working overtime to protect the head and keep him out of prison. Still there are thousands of hedge funders who will just fill any vacuum left by SAC's displacement.
'There are two kinds of injustice: the first is found in those who do an injury, the second in those who fail to protect another from injury when they can.' (Roman. Cicero, De Off. I. vii)

'Choose loss rather than shameful gains.' (Chilon Fr. 10. Diels)

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Re: biggest Insider Trading arrest to date

Postby Judge Roy Bean » Tue Nov 27, 2012 11:06 pm

Number Six wrote: ... Just because Mr. Cohen is CT's richest resident does not mean he gets a free pass when it comes to the law, ...


He needs to move to NY. :wink:
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Re: biggest Insider Trading arrest to date

Postby Number Six » Mon Dec 10, 2012 2:42 am

There was a notable article last week on investigations into SAC, clearly influential senators like Grassley want to see the case have success:

http://dealbook.nytimes.com/2012/12/06/ ... stigation/

Also this article today was on the top list of emailed pieces:

http://www.nytimes.com/2012/12/08/busin ... l?hpw&_r=0
'There are two kinds of injustice: the first is found in those who do an injury, the second in those who fail to protect another from injury when they can.' (Roman. Cicero, De Off. I. vii)

'Choose loss rather than shameful gains.' (Chilon Fr. 10. Diels)

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Re: biggest Insider Trading arrest to date

Postby notorial dissent » Sun Mar 31, 2013 8:48 am

Michael Steinberg, a portfolio manager with SAC was arrested at his home Friday by the FBI, and later released on a $3M bond. He is charged with insider trading on Dell shares, for which the company has already paid $14M in fines, on top of the $616M they have already agreed to pay to date, and the investigation isn't over yet. The saga continues.
The fact that you sincerely and wholeheartedly believe that the “Law of Gravity” is unconstitutional and a violation of your sovereign rights, does not absolve you of adherence to it.


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