A large Insider Trading network was broken up on Wall Street
One of the largest Wall Street insider trading rings, since the 1980s. Some of the suspects are executives and brokers at firms such as Bear Stearms and Bank of America Securities have been accused of $15million. A recent report stated that the suspects used research information regarding stock values and corporateacquisitions stolen from UBS Securities and Morgan Stanley to make stock trades. Ringleaders in the UBS scheme allegedly used clandestine meetings at Manhattan's famed Oyster Bar and disposable cell phones, secret codes abd cash kickbacks to hide their illegal activities. The suspects will be in prison up to 25 years, only one off the suspectshas already pleaded guilty.
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