This has been the biggest insider trading scandal broken up since the 1980's. It involved 15 million dollars over the course of 5 years. It was busted on march 1st. They used insiders at Morgan Stanley and Co. and UBS Securities LLC to gain lots of valuable information. People were being tipped off about stock upgrades and downgrades by UBS. This let investors cash in before the news hit the market when everyone else would find out. They used disposable cell phones and secret codes in order to keep the operation a secret.
13 people were arrested.
Subscribe to:
Post Comments (Atom)
1 comment:
YOU HAVE A COOL PODCAST I DID MY REVIEW ON IT!!
Post a Comment