Tag Archives: insider trading

“SCOOP: People inside the Trump White House are alerting Wall Street execs they are nearing an agreement in principle on trade with India, according to my sources who are senior Wall Street execs w ties to the White House. “No details on timing, and recall that we have been here before with Japan only to have the goal posts changed, …

The New York Times reports: U.S. securities regulators sued Elon Musk in federal court in Washington on Tuesday in an enforcement action arising from his $44 billion purchase of Twitter, now called X. The lawsuit against Mr. Musk, who has become a close adviser to President-elect Donald J. Trump, is likely to be one of the more contentious final acts …

The New York Times reports: Ivan F. Boesky, the brash financier who came to symbolize Wall Street greed as a central figure of the 1980s insider trading scandals, and who went to prison for his misdeeds, died on Monday. He was 87. An inspiration for the character Gordon Gekko in Oliver Stone’s movie “Wall Street” and its sequel, Mr. Boesky …

The Daily Beast reports: On Wednesday, watchdog group Citizens for Responsibility and Ethics in Washington filed a complaint with the Office of Congressional Ethics, accusing Rep. Mike Garcia (R-CA) of breaking disclosure laws and the STOCK Act when he failed to properly report multiple transactions in the run-up to the 2020 election—including the sale of Boeing stock weeks before a …

Bloomberg News reports: A former Republican congressman from Indiana was ordered to spend 22 months in prison for trading on inside information about mergers he learned about while working as a consultant after leaving office. Stephen Buyer, who served in Congress from 1993 to 2011, was sentenced Tuesday by US District Judge Richard Berman in New York. Buyer was found …

The New York Times reports: Federal authorities charged three men on Thursday with taking part in a scheme to make $22 million in illegal profits by trading ahead of the proposed merger of former President Donald J. Trump’s social media company with a cash-rich public shell company in fall 2021. The arrests came after a lengthy investigation by federal prosecutors …

The New York Times reports: If the merger is not completed in the next six months, Digital World — established as a special purpose acquisition corporation — will have to return the $300 million it raised from investors in 2021 through an initial public offering. But it is not clear that the investigations by the Securities and Exchange Commission and …

The Lafayette Courier & Journal reports: On Friday, the U.S. District Court for the Southern District of New York convicted former Indiana Rep. Stephen Buyer on insider trading charges. These charges were filed by the Securities and Exchange Commission based on allegations that Buyer had used insider information to purchase stock in Navigant Consulting and Sprint Corp. before their acquisitions …

The Wall Street Journal reports: The Securities and Exchange Commission is no longer investigating trading by former Sen. Richard Burr, whose stock sales in February 2020 raised concerns he misused information he received as a lawmaker about the coronavirus pandemic’s potential economic impact. The SEC this week told Mr. Burr, a North Carolina Republican who retired from the Senate at …

Axios reports: Rep. Madison Cawthorn (R-N.C.), who is leaving Congress next month after losing his primary, was directed by the House Ethics Committee Tuesday to pay more than $15,000 related to his ownership and promotion of a cryptocurrency. A report released by the panel, which followed a seven-month investigation, concluded there was “substantial evidence” the North Carolina lawmaker improperly received …

CNBC reports: Rep. Madison Cawthorn on Friday belatedly disclosed suspected cryptocurrency transactions that earlier this month led the House Ethics Committee to open an investigation into the North Carolina Republican’s possible promotion of an asset he secretly owned. Cawthorn, 26, revealed Friday that he bought between $100,000 and $250,000 worth of “Let’s Go Brandon” cryptocurrency on Dec. 21. The transaction …

The Hill reports: The House Ethics Committee has launched a probe into embattled Rep. Madison Cawthorn (R-N.C.) to determine whether he improperly promoted a cryptocurrency without disclosing he had a financial interest in it and whether he had an improper relationship with a staff member employed in his congressional office. A Washington Examiner report first suggested that Cawthorn may have …

Charlotte’s Fox News affiliate reports:  A North Carolina senator is weighing in on the latest in an avalanche of issues for a fellow congressman from the Tar Heel state. Thom Tillis tweeted Wednesday morning, addressing accusations that Rep. Madison Cawthorn had implicated himself in insider trading. The Washington Examiner wrote that Madison Cawthorn is under fire after posing with hedge …

The right wing Washington Examiner reports: Rep. Madison Cawthorn may have violated federal insider trading laws as he hyped up an alleged pump-and-dump cryptocurrency scheme, multiple watchdog groups told the Washington Examiner. On Dec. 29, the beleaguered North Carolina congressman posed at a party with James Koutoulas, a hedge fund manager and the ringleader of the Let’s Go Brandon cryptocurrency, …

The Los Angeles Times reports: A federal appeals court on Friday overturned a judge’s ruling that blocked the public’s access to a search warrant for Sen. Richard M. Burr’s cellphone that federal investigators seized in an investigation of his stock trades. The three-judge appeals court panel found that U.S. District Judge Beryl Howell had misapplied the law in her May …

From the editorial board of the Charlotte Observer: New details arose Thursday regarding a Securities and Exchange Commission investigation into possible insider trading by Burr. According to an SEC filing first reported by ProPublica, Burr possessed “material nonpublic information” regarding the incoming economic impact of the virus when he dumped roughly $1.6 million in stocks in February 2020. After doing …

ProPublica reports: After Sen. Richard Burr of North Carolina dumped more than $1.6 million in stocks in February 2020 a week before the coronavirus market crash, he called his brother-in-law, according to a new Securities and Exchange Commission filing. They talked for 50 seconds. Burr, according to the SEC, had material nonpublic information regarding the incoming economic impact of coronavirus. …

The Washington Post reports: Sen. Rand Paul revealed Wednesday that his wife bought stock in Gilead Sciences — which makes an antiviral drug used to treat covid-19 — on Feb. 26, 2020, before the threat from the coronavirus was fully understood by the public and before it was classified as a pandemic by the World Health Organization. The disclosure, in …

Forbes reports: Sen. Tommy Tuberville (R-Ala.) bought and sold more than $1 million worth of securities during his first five months in the Senate, buying and selling stock in some companies with business before his committees, according to a filing released Friday. A member of the Armed Services Committee, Tuberville made four separate purchases of Alcoa, a defense contractor, totaling …

Via press release from New York AG Letitia James: New York Attorney General Letitia James, today, announced a new action taken in her investigation of insider trading by the chief executive officer (CEO) of the Eastman Kodak Company (Kodak). Attorney General James filed a petition with the New York County State Supreme Court to have Kodak CEO Jim Continenza publicly …