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tonypittm...

M¢25 Funded By Mahalo ? | October 16, 2009 07:17 PM

Can anyone explain, in simple terms, what the IBM, McKinsey, etc. guys allegedly did to get arrested today?

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k2k

October 16, 2009 07:44 PM

Insider trading according to the Financial Times. The article cites a report from the Associated Press that several executives from IBM and McKinsey passed information to the founder of the Galleon Group hedge fund. This information was used to execute trades using information that the ordinary public would not have access to and presumably resulted in profits gained from that information. The article goes on to say that two persons are going to be charged with conspiracy (in addition to insider trading). Those charges are to be announced shortly.

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