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Jan 26, 2015

SEC pushes for reversal of major U.S. insider trading ruling

NEW YORK, Jan 26 (Reuters) – The U.S. Securities and
Exchange Commission on Monday supported a bid by prosecutors in
New York for a shot at overturning a ruling that cleared two
hedge fund managers of insider trading and limited the ability
of authorities to pursue such cases.

The SEC, in a court filing, backed Manhattan U.S. Attorney
Preet Bharara’s request that the 2nd U.S. Circuit Court of
Appeals reconsider its ruling from December reversing two hedge
fund managers’ insider trading convictions.

Jan 26, 2015

U.S. charges three in alleged Russian spy ring in NYC

NEW YORK, Jan 26 (Reuters) – The U.S. government on Monday
unveiled criminal charges against three men for their alleged
involvement in a Russian spy ring operating in New York City.

Evgeny Buryakov, Igor Sporyshev and Victor Podobnyy
conspired to gather economic intelligence on behalf of Russia,
including alleged information about U.S. sanctions against the
country, and to recruit New York City residents as intelligence
sources, U.S. Attorney General Eric Holder said in a statement.

Jan 26, 2015

Analysis – NY insider trading ruling tests prosecutors beyond Wall Street

NEW YORK (Reuters) – A court ruling that sharply curtailed the ability of prosecutors including Manhattan U.S. Attorney Preet Bharara to pursue insider trading cases is increasingly testing regulators’ abilities across the country.

Defendants in California and Massachusetts have sought to take advantage of a December ruling from the 2nd U.S. Circuit Court of Appeals in New York that narrowed the definition of insider trading, making it harder for prosecutors to pursue their cases.

Jan 23, 2015

U.S. to seek reversal of landmark insider trading ruling

NEW YORK, Jan 23 (Reuters) – Federal prosecutors in New York
plan on Friday to ask a U.S. appeals court to reconsider a
landmark ruling that curtailed their ability to pursue insider
trading cases and jeopardized several convictions.

Prosecutors will ask the 2nd U.S. Circuit Court of Appeals
to grant a rehearing in the case of hedge fund managers Todd
Newman and Anthony Chiasson, who in December won the reversal of
their insider trading convictions, a spokeswoman for Manhattan
U.S. Attorney Preet Bharara said.

Jan 22, 2015

U.S. judge throws out insider trading guilty pleas over IBM deal

NEW YORK, Jan 22 (Reuters) – A U.S. judge on Thursday threw
out the guilty pleas of four men accused of illegally dealing in
shares ahead of an IBM Corp acquisition, the first
decision in response to a landmark appellate ruling curtailing
prosecutors’ ability to bring certain insider trading cases.

The decision raises the prospect that U.S. District Judge
Andrew Carter in Manhattan could dismiss the indictment against
the four men and a fifth defendant before a trial next month.

Jan 22, 2015

U.S. regulators sue former Capital One employees for insider trading

Jan 21 (Reuters) – U.S. securities regulators have accused
two former Capital One Financial Corp data analysts with
engaging in insider trading based on sales data the credit card
issuer had collected from millions of its customers.

The U.S. Securities and Exchange Commission on Wednesday
filed a lawsuit in federal court in Philadelphia against Bonan
Huang and Nan Huang, saying the analysts used the nonpublic data
to trade in the shares of consumer retail companies ahead of
sales and earnings reports.

Jan 22, 2015

New York state assembly speaker arrested on corruption charges

NEW YORK, Jan 22 (Reuters) – New York Assembly Speaker
Sheldon Silver, one of the state’s most powerful Democrats for
more than two decades, was arrested on Thursday after a lengthy
federal corruption investigation, the FBI said.

Silver, 70, a lawyer whose tenure as speaker since 1994 has
outlasted governors, mayors and many other politicians, has been
under investigation by federal prosecutors in Manhattan and the
FBI. Silver has served in the Assembly since 1977.

Jan 21, 2015

Accused Silk Road operator maintained journal about website: U.S

NEW YORK (Reuters) – The accused operator of the online black marketplace Silk Road had a digital journal on his laptop detailing the development of the website and predicting it would become a “phenomenon,” jurors heard on Wednesday.

Prosecutors showed jurors in Manhattan federal court journal entry excerpts dated in 2010 and 2011 found on a laptop seized when the FBI arrested Ross Ulbricht, who authorities say operated the website where drugs and other illicit goods could be bought with bitcoins.

Jan 21, 2015

Ex-investor relations exec gets U.S. prison term for insider trading

NEW YORK, Jan 21 (Reuters) – A former executive at a New
York investor relations firm, whose shoeless sprint from news
photographers last year was lampooned on Comedy Central’s “The
Daily Show,” was sentenced on Wednesday to 2-1/2 years in prison
for insider trading.

Michael Lucarelli, the former director of market
intelligence at Lippert/Heilshorn & Associates, was also ordered
by U.S. District Judge Jesse Furman in Manhattan to forfeit
$955,000, the amount of illicit profits prosecutors said he
made.

Jan 21, 2015

U.S. bitcoin exchanger who sold on Silk Road gets four years in prison

NEW YORK (Reuters) – A Florida plumber who operated an underground bitcoin exchange selling the digital currency to users of the black market website Silk Road was sentenced to four years in prison on Tuesday.

Robert Faiella, 55, was sentenced by U.S. District Judge Jed Rakoff in Manhattan after pleading guilty to operating an unlicensed money transmitting business.