A Brooklyn man has entered into a cooperation agreement to help the SEC mount evidence in an insider trading scheme in which illegal tips were passed via napkins or post-it notes at Grand Central Terminal in New York.
The US Securities and Exchange Commission last year charged a law firm clerk and a stockbroker with insider trading in a scheme that used a mutual friend to pass material, nonpublic information from the law firm’s computer systems about clients’ pending corporate transactions. That middleman was later identified as Frank Tamayo in a complaint filed in federal court in New Jersey, the SEC said July 13.
Read more at http://www.advisenltd.com/2015/07/13/settlement-reached-in-grand-central-post-it-notes-insider-trading-case/
Chapman, Cate. ‘Settlement reached in Grand Central post-it notes insider trading case’. ©2015 Advisen Ltd. 29 July 2015.
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