Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Did Fidelity Blow the Insider Trading Whistle? Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, May 8, 2013

Did Fidelity Blow the Insider Trading Whistle?

News summary by MFWire's editors

When a now-admitted inside trader started making strange bets, it looks it was Fidelity [profile] that helped take him down.

The Los Angeles Times reported on the guilty plea of jeweler Bryan Shaw, who confessed to paying more than $60,000 in cash, plus gifts, to KPMG partner Scott London for insider tips on several companies, including Herbalife and Skechers. The Times wrote that, according to Nathan Hochman, Shaw's attorney, "the scheme began unraveling when Fidelity Investments discovered the suspicious trades in Shaw's account and froze it."

"One can make a logical conclusion that Fidelity probably alerted the SEC," Hochman told the paper.

The SEC subpoenaed Shaw in December, and he later gave the SEC and the Justice Department a complete confession. As part of his plea deal, Shaw must return almost $1.3 million in gains. 

Edited by: Neil Anderson, Managing Editor


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use