SEC Busts Wall Street Lawyers and Other Top Officials In Securities Fraud Scheme

   The greedy employee/scammers from Wall Street lost a few of their cohorts today as 11 of the top workers and a few husband and wife lawyer teams were charged today with making something like $15 million in illegal trades through an securities fraud scheme.  Source

Linda Chatman Thomsen, director of the Division of Enforcement for the Securities and Exchange Commission, said in a statement that the case was "one of the most pervasive Wall Street insider trading rings since the days of Ivan Boesky and Dennis Levine" in the mid-1980s.

"What is so alarming about the conduct alleged in the SEC's case isn't just the scope of the scheme ... but, sadly, who is at the center of it," she said.

Besides the lawyers, defendants including registered representatives, compliance personnel and hedge fund portfolio managers, improperly relied on hundreds of tips during five years of illegal trading, she said.

"And this conduct didn't occur in obscure boiler rooms — but rather at what are commonly considered `top tier' Wall Street firms," Thomsen said.  AP

 

Technorati tags: SEC, Securities Fraud, Wall Street

 

80 Militants Killed, 50 Captured

   According to the Iraqi Interior Ministry, eighty militants got whacked on Wednesday and another 50 were caught while fighting with those lovable Iraqi forces.

   This fight involved Iraqi cops, tribal leaders and soldiers going up against al Qaeda in Iraq fighters. It is reported that three police officers were killed in the fight which lasted throughout most of Wednesday.

    American troops were not involved in this one according to the US military. Source

      For the record, since the start of the war the American troop casualty count now stands at 3,163.   This is the surge that the White House will not discuss!

 

Technorati tags: al Qaeda, Iraqis, militants