Posted by AzBlueMeanie:

Handcuffs_man_140 Update to FBI raids the banksters of Wall Street in insider trading scandal.


Wall Street is bracing for another round of indictments this week in a massive insider trading probe, people familiar with the matter have told CNBC. Wall Street Braces for More Insider-Trading Charges – CNBC:

The move by Federal prosecutors may include a number of arrests, according to these people.

The indictments right at the height of the holiday season may prove a tactical advantage for prosecutors, sources in the legal community say.

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U.S. authorities began subpoenaing big-name investors, including Wellington Management and SAC Capital Advisors, on Nov. 22, the same day Federal Bureau of Investigation agents raided hedge funds in three states.

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Last week, federal prosecutors in Manhattan sent more subpoenas to several large hedge funds, said the sources, who asked not to be named because the investigation is not public.

Yeah, well let me know when one of these banskters of Wall Street actually goes to jail. The American people are still waiting for "somebody going to emergency, somebody going to jail." Mark Madoff's suicide over the weekend doesn't count.

UPDATE: The New York Times reports 4 Arrested in Insider Trading Investigation:

The four are accused of tipping off hedge funds and others with nonpublic information on sales figures for companies like Dell and Advanced Micro Devices, as well as providing details about new products like the Apple iPhone.

The authorities also arrested an executive at an expert-network firm that served as the matchmaker between the technology industry employees and hedge fund traders. The firm, Primary Global Research of Mountain View, Calif., hired the employees as consultants and arranged calls between them and the traders, prosecutors say. The employees were paid more than $400,000 combined for their services.

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The four people arrested on Thursday were Walter Shimoon, a senior director of business development at Flextronics in San Diego; Mark Longoria, a supply chain manager at Advanced Micro Devices in Texas; Manosha Karunatilaka, an account manager at the Taiwan Semiconductor Manufacturing Company; and James Fleishman, a vice president and sales manager at Primary Global Research.

Daniel DeVore, who worked as a global supply manager at Dell, entered a guilty plea and is cooperating with authorities. All four of the technology employees no longer work for their companies. Mr. Fleishman is on leave, a Primary Global spokesman said.