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Saturday
Nov202010

Report: Feds Set for Multiple Insider Trading Indictments

Photo Courtesy - Getty Images(NEW YORK) -- The federal government is reportedly set to wind up a three-year insider trading investigation that could shake the investment world to its roots.

The Wall Street Journal on Saturday previewed what could be multiple charges against consultants, investment bankers, hedge fund and mutual fund traders who allegedly engaged in insider trading rings, reaping tens of millions of dollars.  Some charges could be leveled by the end of the year.

Experts are quoted as saying if the investigation is as large in scope as it appears, it could have the biggest impact of any probe of its kind in history.  It could reveal whether non-public information is routinely passed along by consultants for so-called expert networks, providing an investment edge to hedge fund managers and mutual fund traders.

Charges could be both federal and civil in nature.  The Journal says sources confirm a federal grand jury in New York has heard evidence in the matter but it is not clear what, if any, charges may follow.

Copyright 2010 ABC News Radio







ABC News Radio