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Turney Duff, Author Of 'The Buy Side' Talks Insider Trading, Galleon Group & The White House
Wednesday, May 28, 2014 - 1:20pm | 968Turney Duff is the author of the New York Times bestseller The Buy Side: A Wall Street Trader's Tale of Spectacular Excess. Recently, Sony Pictures purchased the rights to develop the book in to a TV show or movie. Duff was a special guest on Benzinga's #PreMarket Prep show on May 23 to talk...
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Legacies of Shame: The White Collar Crime Epidemic in America
Saturday, February 2, 2013 - 4:17pm | 2713On Thursday, two prominent fraudsters were sentenced to lengthy prison terms, underscoring the seemingly epidemic levels of white collar crime in America. The prior day, former Illinois governor George Ryan was released from a federal penitentiary in Terre Haute, Indiana after serving more than 5...
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Feds Targeting SAC Capital's Steve Cohen?
Tuesday, November 27, 2012 - 9:48am | 1988Yet another former employee of SAC Capital was indicted on insider trading. On Tuesday, U.S. Attorney Preet Bharara's office charged former SAC Capital portfolio manager Mathew Martoma in a $276 million insider trading case -- the largest of its kind. The alleged nefarious trading took place in...
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Former Goldman Sachs Director Gupta Headed to Federal Prison
Thursday, October 25, 2012 - 12:59pm | 840In the culmination of a stunning fall from power, Rajat Gupta, a former Goldman Sachs (NYSE: GS) director and chief executive of management consultancy McKinsey & Co., was sentenced to two years in a federal prison for leaking corporate secrets to hedge fund manager Raj Rajaratnam. In June, Mr...
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Fox Business Network: Raj Rajaratnam's Legal Team Will Appeal $92 Million Fine
Wednesday, November 16, 2011 - 4:24pm | 102FOX Business Network (FBN) Senior Correspondent Charlie Gasparino reports that “Raj Rajaratnam's legal team will appeal the $92 million fine” he's been ordered to pay. Gasparino reports, “They will argue it by saying he's worth far less than estimated $1 billion.” Excerpts from the report are below...
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Congress is Nothing Short of Disgusting
Monday, November 14, 2011 - 3:32pm | 644There was a report on "60 Minutes" last night on CBS (NYSE: CBS) that was more disturbing than any shady practices on Wall Street ever. Legal insider trading. Insider trading happens on Wall Street, and when it is caught, it is prosecuted to the fullest extent of the law. Just ask Raj Rajaratnam...
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U.S. Expected to Charge ex-Goldman Sachs Director Wednesday
Tuesday, October 25, 2011 - 10:13pm | 147According to the New York Times, federal prosecutors will file criminal charges Wednesday against former Goldman Sachs (NYSE: GS) Director Rajat K. Gupta. Gupta is expected to surrender to the authorities on Wednesday. His trial could mean the beginning in a new government offensive against...
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As The World Turns: Green Mountain is a Soap Opera
Monday, October 24, 2011 - 2:00pm | 784When David Einhorn announced that he was short Green Mountain Coffee Roasters (NASDAQ: GMCR) at the Value Investing Congress last week, investors shot first and asked questions later, sending shares down some 25%, before finally starting to recover today. Einhorn, of Greenlight Capital, said at...
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Fox Business Network: Rajaratnam's Attorneys Plotting Aggressive Appeals Strategy
Thursday, October 13, 2011 - 2:12pm | 341FOX Business Network (FBN) Senior Correspondent Charlie Gasparino reports that the attorneys for Galleon Group founder Raj Rajaratnam are plotting to appeal Rajaratnam's insider-trading conviction because “the way in which the government went about getting the wiretaps has been controversial.”...
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Rajaratnam Sentenced To 11 Years For Insider Trading
Thursday, October 13, 2011 - 12:09pm | 283Galleon Group co-founder Raj Rajaratnam was sentenced to 11 years in prison on Thursday for insider trading. The billionaire was also fined $10 million for securities fraud. Prosecutors referred to Rajaratnam as "the modern face of illegal insider trading," according to Bloomberg. The charges...
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Benzinga's Political Round Up, August 17, 2011
Wednesday, August 17, 2011 - 12:35pm | 54China promised to let foreign investors buy mainland shares and bonds. Raj Rajaratnam, who was convicted of all 14 criminal counts against him, lost a bid to have his convictions overturned.
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Danielle Chiesi to Pay $540,000 in Insider Trading Case
Wednesday, July 13, 2011 - 1:54pm | 88Danielle Chiesi, the former hedge-fund trader who will pay $540,000 to settle related civil charges with the Securities and Exchange Commission, writes the Wall Street Journal. Chiesi, 45, helped former Galleon Group founder Raj Rajaratnam with insider trading. Rajaratnam was convicted on these...
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Danielle Chiesi Seeks Less Prison Time For Insider Trading
Tuesday, June 14, 2011 - 2:14pm | 243Former hedge fund analyst Danielle Chiesi, who is at the center of the massive insider trading investigation that is sweeping Wall Street, is looking to mitigate the length of her prison sentence by blaming her illegal conduct on a "toxic" sexual relationship she had with her boss, Mark Kurland....
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Insider Trading in the Post-Rajaratnam World
Tuesday, May 24, 2011 - 2:03pm | 549Hedge Fund billionaire Raj Rajaratnam has been found guilty of all 14 counts of securities fraud and conspiracy charges against him. The case now goes to 2nd Circuit Court of Appeals. If upheld, Mr. Rajaratnam is facing the possibility of a maximum 190 years in prison, though he is likely to...
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Meredith Attwell Baker Proves Not All Insiders Go to Jail
Monday, May 16, 2011 - 3:53pm | 391This summer, Raj Rajaratnam will stand before Judge Richard Holwell and receive his sentence for insider trading. If the experts are right, he'll hear a number somewhere in the “15 to 20 years” range. Around the same time, Meredith Attwell Baker will be in a nice, cushy office — and nowhere near...