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Dec 16, 2012

Connecticut town seeks solace in church; Obama due

NEWTOWN, Connecticut (Reuters) – Worshippers filled Sunday services to mourn the victims of a gunman’s elementary school rampage that killed 20 children and six adults with President Barack Obama due to appear later at an interfaith vigil to help this shattered Connecticut town recover.

Twenty-year-old gunman Adam Lanza shot his way into the Sandy Hook Elementary School in Newtown on Friday morning, firing away at students and staff with the civilian version of a powerful military rifle and at least two handguns. Victims were hit multiple times and at least one was shot 11 times, authorities said.

Dec 12, 2012

‘Tiger Cub’ manager pleads guilty in insider trading case

NEW YORK, Dec 12 (Reuters) – In the latest chapter of a U.S.
crackdown on insider trading, Tiger Asia Management, an
Asia-focused hedge fund run by Sung Kook “Bill” Hwang, pleaded
guilty on Wednesday to wire fraud in connection with illegal
trading of two Chinese bank stocks, according to federal
prosecutors in New Jersey.

Hwang and the fund were separately charged with insider
trading in a civil suit by the U.S. Securities and Exchange
Commission, according to an SEC press release.

Dec 8, 2012

Exclusive: U.S. authorities probe SAC for Weight Watchers – sources

By Jennifer Ablan and Matthew Goldstein and Emily Flitter

(Reuters) – U.S. authorities are investigating Steven A. Cohen’s SAC Capital Advisors hedge fund for possible insider trading in the shares of the popular diet company Weight Watchers International Inc, according to people familiar with the matter.

The investigation focuses on trading in Weight Watchers shares in the first half of 2011, when SAC Capital had taken a sizeable position in the stock, and potentially could implicate the billionaire hedge fund manager, the sources said on Friday.

Dec 8, 2012

US authorities probe SAC for Weight Watchers-sources

Dec 7 (Reuters) – U.S. authorities are investigating Steven
A. Cohen’s SAC Capital Advisors hedge fund for possible insider
trading in the shares of the popular diet company Weight
Watchers International Inc, according to people familiar
with the matter.

The investigation focuses on trading in Weight Watchers
shares in the first half of 2011, when SAC Capital had taken a
sizeable position in the stock, and potentially could implicate
the billionaire hedge fund manager, the sources said on Friday.

Dec 6, 2012

Wall St credibility helped FBI agent nab Martoma, others

NEW YORK, Dec 6 (Reuters) – FBI Supervisory Special Agent
Richard Jacobs once had to go undercover as a “corrupt” stock
broker to help catch scammers on Wall Street making illegal
profits by manipulating penny stocks.

Jacobs had to live and breathe his new role.

“When you’re talking to traders, there’s a lot of slang,” he
said in a recent interview with Reuters. “I thought, ‘Can I pull
this off?’”

Dec 4, 2012

FBI arrests ex-Rochdale trader who imperiled firm

NEW YORK (Reuters) – The FBI on Tuesday arrested David Miller, a former Rochdale Securities trader whose outsized, unauthorized purchases of Apple stock in October nearly sank his firm.

U.S. prosecutors in Connecticut charged Miller with wire fraud, alleging he lied about his trading of Apple (AAPL.O: Quote, Profile, Research, Stock Buzz) shares ahead of the tech giant’s October 25 earnings announcement.

Dec 3, 2012

Morgan Stanley trader was probed at Goldman: sources

By Lauren Tara LaCapra and Emily Flitter

(Reuters) – Morgan Stanley hired former Goldman Sachs trader Edward Glenn Hadden to run its Treasury bond desk last year, even though his former employer had placed the trader on paid leave for about a year following an internal inquiry, said three people familiar with the situation.

The inquiry by Goldman involved a matter separate from an ongoing investigation by exchange operator CME Group into a December 2008 trade that involved U.S. Treasury futures.

Nov 28, 2012

SEC’s written warning to SAC Capital means legal action soon

NEW YORK (Reuters) – It could be weeks, maybe months, before U.S. securities regulators move on their threat of filing civil fraud charges against Steven A. Cohen’s SAC Capital Advisors.

The $14 billion hedge fund now faces a period of meetings with SEC lawyers that could stretch on for some time, said lawyers familiar with the process.

Nov 26, 2012

Ex-SAC manager granted $5 mln bail in trading case

NEW YORK, Nov 26 (Reuters) – A former SAC Capital portfolio
manager was released on $5 million bail on Monday after making
his first appearance in a New York court on charges of making
illegal trades that hedge fund titan Steven A. Cohen personally
signed off on.

Mathew Martoma, 38, of Boca Raton, Florida, was charged last
week in what U.S. prosecutors called “the most lucrative”
insider-trading scheme ever.

Nov 26, 2012

Ex-SAC manager granted $5 million bail in insider-trading case

NEW YORK (Reuters) – A former SAC Capital portfolio manager was released on $5 million bail on Monday after making his first appearance in a New York court on charges of making illegal trades that hedge fund titan Steven A. Cohen personally signed off on.

Mathew Martoma, 38, of Boca Raton, Florida, was charged last week in what U.S. prosecutors called “the most lucrative” insider-trading scheme ever.

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      "Based in New York covering financial crimes, including insider trading, investment scams, accounting fraud and financial firm misconduct."
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