Market Overview

Gasparino: Government Treating Insider Trading Probe Just Like a Mob Case

Fox Business Network Senior Correspondent, Charlie Gasparino, is reporting today that the insider trading probe being run by the Justice Department and the FBI is “using the same techniques they used against the mobs and against terrorists”, attempting to “arrest, flip, gain information from” the smaller players, in order to “make the case against the top guy.”

Mr. Gasparino said, “Regulatory sources are telling the FOX Business Network that the FBI, the Justice Department, are using the same techniques they used against the mobs and against terrorists. There is a gentleman in the middle they want to snare."

"Sources are telling us among those top players in the middle Steve Cohen the head of SAC Capital is clearly on the radar screen. The lower level guys are the people they are looking to arrest, flip, gain information from, and make the case against the top guy. It is classic mob related, terrorist related investigation.”

He noted that arrests are likely to come before the end of the year, while some could be imminent.

Posted-In: Charlie Gasparino Fox Business NetworkNews Hedge Funds Movers & Shakers

 

Related Articles

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters