U.S. nearing end of major Wall Street insider-trading probe

Source: Washington Post

Federal prosecutors in New York are in the advanced stages of an extensive insider-trading investigation that could lead to criminal charges against Wall Street traders and executives, federal law enforcement officials said Saturday.

Authorities had been preparing to file charges in the probe within weeks, but that timetable could be accelerated after an article about the investigation appeared in the Wall Street Journal on Saturday, the officials said.

The investigation, conducted by the U.S. Attorney's Office in Manhattan and the FBI, has been underway for several years and extends far beyond Wall Street to financial offices across the country, the paper reported. Officials would not discuss specific companies or individuals under scrutiny or provide further details. The Securities and Exchange Commission is conducting a parallel civil probe, officials said.

The Journal reported that authorities are investigating bankers at Goldman Sachs in particular who may have given confidential information about health-care mergers to certain investors. Goldman is the top provider of investment banking services in health-care deals. A Goldman spokesman declined to comment.

Read more: http://www.washingtonpost.com/wp-dyn/content/article/2010/11/20/AR2010112003499.html

It's better than doing nothing. At least we'll have more information and names. But you're right, none of them will ever pay for their crimes. Maybe it will cost them some of that stolen money if nothing else.

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Not this old lady. How many, many investigations are announced, nothing 'found' then disappear into never-never land?

:grr: Oh yeah, a couple middle managers will be sacrificed as well...

Oh yeah. Never mind.

naw