Insider Trading Ring involved coded SMS and disposable cell phones

The Securities and Exchange Commission charged 14 people in an insider trading ring that involved coded text messages on disposable cell phones, information from a Morgan Stanley lawyer, and secret meetings at the Oyster Bar. [via Gothamist]

"...The people involved made $14-15 million. The SEC called it the "one of most pervasive Wall Street insider-trading rings since the days of Ivan Boesky and Dennis Levine."

emily | 5:00 PM | News, Buzz |
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