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| Top Ten Insider Trading Cases
Quote: Friday morning FBI agents swept in on six men from New York City to San Jose, Calif. busting what U. S. Attorney Preet Bharara called "the largest hedge fund insider trading case ever charged, criminally."
"I want to emphasize that this is not a garden-variety insider trading case," Bharara told reporters on Friday.
The group that includes Fortune 500 executives, a hedge fund manager, and a management consultant are accused by the Justice Department and the Securities and Exchange Commission of making more than $20 million in profits by taking confidential information from corporate insiders and using it to gain an unfair trading advantage on stocks including Google and Hilton.
Bharara, whose jurisdiction covers New York City, announced the arrests on Friday are part of a crackdown on hedge fund insider trading.
"We are targeting white collar insider trading rings with the same powerful investigative tools that have worked so successfully against the mob and drug cartels," he said.
| http://abcnews.go.com/Business/insid...ory?id=8874527  |
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