Friday, December 19, 2008

SEC Charges Wall Street Professionals and Others with Widespread Insider Trading: Matthew C. Devlin and other representatives of Lehman Brothers.

"Defendants Devlin, Bouchareb, Daniel Corbin, Bowers, Faulhaber, Holzer, Glover, Corbin Investment Holdings, LLC and Augustus Management, LLC are charged with violating Sections 10(b) and 14(e) of the Securities Exchange Act of 1934 and Exchange Act Rules 10b-5 and 14e-3. The SEC seeks injunctive relief, disgorgement of illicit profits with prejudgment interest, and civil penalties. Defendants Checa, Checa International, Inc. and Lee Corbin are charged as relief defendants and the SEC seeks their trading profits."

US Securities and Exchange Commision's Complaint (pdf)

It's not such a great time to be a "greed is good" type, is it?

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