A Goldman Sachs analyst, a Merrill Lynch banker and a printing plant worker were arrested on Tuesday for allegedly participating in a $6.7 million insider trading ring that involved stolen magazines, strippers and a retired underwear factory worker in Croatia.
It’s an interesting scheme.
One of their schemes involved insider info on the P&G acquisition of Gillette last year. After reading about their scheme and its simplicity, one has to wonder how many traders are slipping through the nets.
1 comment:
If they'd made one or two scores and stopped, they'd be rich today and nobody would be the wiser. Now, they're facing the prospect of spending essentially the rest of their lives in prison, and they're not even thirty.
To me, the lesson is that most criminals are stupid and greedy, and that's what gets them caught.
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