Insider Trading Probe Looking at 100s of Potential Targets

According to FOXBusiness, we have barely seen the tip of a massive iceberg when it comes to the on-going insider trading investigation by the U.S. attorney in Manhattan and at the SEC. Some people on Wall Street are quite nervous right now.

“There is a possibility of 300 potential targets. What we are talking about is possibly the largest white collar criminal case ever.”

FOX Business News


Sources close to the investigation are talking about hundreds of potential targets involved in this probe, FOX reports. One of its sources says “There is a possibility of 300 potential targets. What we are talking about is possibly the largest white collar criminal case ever.”


This has a lot of people on Wall Street nervous, no doubt. And some are already lawyering up.

One big question is who the ultimate targets are.

The employees who were suborned into providing nonpublic information are not the prosecutorial prizes in all of this.

“They (prosecutors) have not gone after the hedge funds yet. That is clearly the next shoe to drop,” FOX Business News notes.

Many would perhaps agree.

It seems, however, that SAC Capital, led by Steven Cohen, is one potential big fish, but there are most likely others.

It’s unclear how arrests and charges against hedge fund execs will unfold. Could it be that prosecutors are waiting to see how the trial of Raj Rajaratnam plays out? He is scheduled to stand trial Feb. 28.

A lot is riding on it.

FOX Business News reports:

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