The United States Attorney for the Southern District of New York has announced along with the FBI that portfolio managers Samir Barai, 39, and Donald Longueuil, 34 have been charged with conspiracy to commit securities and wire fraud for their involvement in an insider trading scheme. Two other research analysts have plead guilty to conspiracy to commit securities fraud for their roles in the massive scheme, which Manhattan U.S. Attorney Preet Bharara describes as “a brazen cover-up… like something out of a bad movie.” (Ironically, that line is like something out of a bad movie.) [ more › ]
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Insider Trading Scheme Like "Something Out Of A Bad Movie"