recentpopularlog in

preet_bharara

An Insider-Trading Tale That Reads Like a Thriller - The New York Times
By ANDREW ROSS SORKINFEB. 7, 2017

“Black Edge: Inside Information, Dirty Money, and the Quest to Bring Down the Most Wanted Man on Wall Street,”
nonfiction  hedge_funds  Andrew_Sorkin  books  slight_edge  insider_trading  informational_advantages  Wall_Street  Preet_Bharara  SAC_Capital  Steven_Cohen  book_reviews  white-collar_crime  Sheelah_Kolhatkar 
february 2017 by jerryking
When the Feds Went After the Hedge-Fund Legend Steven A. Cohen - The New Yorker
ANUARY 16, 2017 ISSUE
WHEN THE FEDS WENT AFTER THE HEDGE-FUND LEGEND STEVEN A. COHEN
Inside the government’s nearly ten-year battle against one of the most powerful men on Wall Street.
By Sheelah Kolhatkar
Wall_Street  Preet_Bharara  insider_trading  hedge_funds  SAC_Capital  Steven_Cohen  white-collar_crime  nonpublic  Sheelah_Kolhatkar 
january 2017 by jerryking
Law firms will pay price for failure to hold off hackers | Evernote Web
31 December/1 January 2017 | Financial Times | Brooke Masters.

"This case of cyber meets securities fraud should serve as a wake-up call for law firms around the world: You are and will be targets of cyber hacking, because you have information available to would-be criminals," Bharara said in a statement....Other professional services firms should take note. This is not the first time the industry has been hit by hackers who specialise in what is becoming known as "outsider trading"....Accounting firms that provide tax advice on mergers, boutique advisory forms, and consultants who weigh in on synergies and downsizing plans are almost certainly on the criminals' hit list....Professional service firms will not be so lucky. Banks and companies pay extremely high prices for outside advice. They expect professionalism and confidentiality in return. Getting hacked by a bunch of Chinese traders is hardly a strong recommendation of either.
Big_Law  Chinese  confidentiality  cyber_security  cyberattacks  hackers  hacking  law_firms  M&A  malware  mergers_&_acquisitions  Preet_Bharara  professional_service_firms  SEC  security_consciousness  securities_fraud  traders 
january 2017 by jerryking
The man who strikes fear into Wall Street
February 16, 2013
Preet Bharara, U.S. Attorney for the Southern District of New York / Manhattan's top federal prosecutor has sent more financiers to jail than anyone since the 1980s

JOANNA SLATER
Preet_Bharara  Wall_Street  insider_trading  prosecutors 
february 2013 by jerryking
Insider Trading Persists, and Gets Stealthier - NYTimes.com
By JAMES B. STEWART
Published: December 7, 2012

Why has insider trading proved so persistent, even in the face of prosecutions and popular Hollywood films like “Wall Street”?

The risk-versus-reward equation that has always been a factor in financial markets has changed drastically in the last 20 years....many people who work in financial markets “are highly skilled at cost-benefit analysis,” Mr. Bharara told me. “They’re highly intelligent. They’ve been to the best schools. They weigh the risk of getting caught against the potential reward, and they decide it’s worth the risk. We’re trying to tilt that equation.” There’s no doubt that the potential for gain “has soared,” Robert S. Khuzami, head of enforcement at the S.E.C., told me, and not because there are more takeovers and other market-moving events to trade on. “That’s a big change from the 1980s and ’90s. Hedge funds can take massive positions, use short-selling and derivatives, and employ trading techniques that aren’t transparent, and make huge amounts of money on small fluctuations on price. They don’t need to hit a home run on a $20 pop on a takeover announcement. These bets may be bunts and singles, but they get to the same place.”...The pressure to get an “edge,” as hedge fund traders often put it, has never been greater...In the wake of the Milken-Boesky era, the government has become sophisticated at monitoring major market-moving events like takeover announcements, to the point that insider trading on major corporate news has become relatively rare ...Although some critics say the S.E.C.’s expertise has lagged advances in areas like high-frequency trading, the enforcement division has made progress in monitoring suspicious trading. “We’ve created databases to see who is trading in tandem, even if you know nothing about an event,” Mr. Khuzami said. “It’s a trader-based approach, not an issuer-based approach. These trading patterns are the first clue to what might be insider trading rings. You then have to do the real detective work, pulling phone records and e-mails and using other techniques to uncover the links. ”
highly_skilled  insider_trading  Wall_Street  financiers  hedge_funds  Preet_Bharara  deterrence  Bay_Street  SEC  enforcement  patterns  misconduct  cost-benefit_analysis  slight_edge  trading  stealth  prosecutors  investigative_workups 
december 2012 by jerryking
Shepard Fairey Pleads Guilty to Contempt Charge in Manhattan District Court
The ordeal over Shepard Fairey’s Obama Hope image has turned a new corner when today the LA-based artist pled guilty to one count of criminal contempt for destroying documents, manufacturing evidence and other misconduct in civil litigation against the Associated Press regarding his world-renowned “Hope” poster.
The press release from the US Attorney’s Office quotes Manhattan US Attorney Preet Bharara saying:
“As he admitted today, Shepard Fairey, an artist associated with an iconic image from the 2008 presidential campaign, went to extreme lengths to obtain an unfair and illegal advantage in his civil litigation, creating fake documents and destroying others in an effort to subvert the civil discovery process. The justice system – civil and criminal – depends on the integrity of lawyers and non-lawyers alike to follow the rules. Those who break the rules risk sanctions, including, in certain cases, criminal prosecution.”
The case is based on a series of event in 2009, when Fairey initiated litigation against the AP in an attempt to prove his use of an AP photograph was protected by fair use. Fairey alleged that he had used a 2006 AP photograph of Obama and actor George Clooney. It turns out Fairey was lying as he had used another AP image from the same event. In order to justify his claim, the artist created multiple false and fraudulent documents and attempted to delete multiple electronic files, which were later discovered.
With the latest guilty plea, Fairey faces a maximum term of six months in prison and a maximum term of supervised release of one year. He also faces a fine of the greatest of $5,000, or twice the gross pecuniary gain derived from the offense or twice the gross pecuniary loss to the victims. He will be sentenced on July 16.
News  art_crimes  Barack_Obama  Featured  Preet_Bharara  Shepard_Fairey  from google
february 2012 by osirisduat
The Street Fighter - Bill Saporito and Massimo Calabresi, Time
U.S. Attorney Preet Bharara has already taken down some of the financial world's most prominent figures. He's just getting started.
Preet_Bharara 
february 2012 by jrick
U.S. Targets Insider Culture in Gupta Case - WSJ.com
OCTOBER 27, 2011 | WSJ | By MICHAEL ROTHFELD, SUSAN PULLIAM and S. MITRA KALITA. Gupta Case Targets Insider Culture
Gupta Indictment Shows New Twist in Crackdown; Case Is Gamble for Prosecutors
McKinsey  insider_trading  SEC  Wall_Street  prosecutors  Rajat_Gupta  P&G  Goldman_Sachs  Preet_Bharara  Department_of_Justice 
october 2011 by jerryking

Copy this bookmark:





to read