The FSA Deployed More Than 143 Employees To Bust Employees At Moore Capital, Deutsche Bank And More For Insider Trading
Courtesy of Courtney Comstock at Clusterstock
Some are calling this one of the biggest insider trading scandal yet.
The FSA deployed more than 143 FSA employees who have been working since 2007 to bust those involved in the latest insider trading scandal.
At the center of the alleged crime is Moore Capital, a huge ($13 billion) hedge fund.
Six total people were arrested.
One is from Moore Cap, he is a trader who worked at the hedge fund’s equity execution desk. Another is from Deutsche Bank. So far no names are known and the other four remain arrests are relatively unknown.
The FSA believes that four London City professionals passed inside information (either directly or via middlemen) to at least one Moore Capital employee and one Deutchse Bank employee who traded based on this information and have made significant profits as a result.
Louis Moore Bacon, the founder of the hedge fund, hasn’t been directly implicated.
See also:
Arrests Made After Major Insider Trading Raid At Mega Hedge Fund Moore Capital
