Goldman manager investigated in insider trade case: source - News and Current Events | futures io social day trading
futures io futures trading

Goldman manager investigated in insider trade case: source
Updated: Views / Replies:249 / 0
Created: by kbit Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors – all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you don’t need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Thread Tools Search this Thread

Goldman manager investigated in insider trade case: source

  #1 (permalink)
Elite Member
Aurora, Il USA
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: futures
kbit's Avatar
Posts: 5,884 since Nov 2010
Thanks: 3,303 given, 3,334 received

Goldman manager investigated in insider trade case: source

(Reuters) - U.S. prosecutors are investigating David Loeb, a managing director of Goldman Sachs Group Inc, as part of an insider-trading probe focusing on the company's hedge-fund clients, a person familiar with the case said on Wednesday.

Loeb works with technology hedge-fund employees, including an Asia-based analyst, Henry King, who is also under investigation, according to another source briefed on the case.
The sources declined to be identified because the matter is not public.

A spokesman for Goldman declined to comment on insider-trading probes and on the current employment status of Loeb and King. Neither Loeb nor King responded to emails seeking comment.

According to a regulatory filing and court records, employees of Goldman Sachs, Wall Street's most influential firm, have been pulled into the insider-trading case of a former board member, Rajat Gupta, who is preparing for trial on criminal and civil charges.

No one at Goldman has been accused of any wrongdoing.

Gupta, a former director of Goldman Sachs and Procter & Gamble Co, and a former global head of the McKinsey & Co consultancy, is to go on trial in May. He has denied charges that he tipped now-convicted Galleon Group hedge fund founder Raj Rajaratnam with Goldman and Procter & Gamble board secrets.

In an annual 10-K filing with the U.S. Securities and Exchange Commission on Tuesday, Goldman included an item "Insider Trading Investigations" that did not appear in regulatory filings a year ago or at the end of the third quarter. A 10-K gives a comprehensive summary of a public company's performance and includes issues that are material to securities investors.

"From time to time, the firm and its employees are the subject of or otherwise involved in regulatory investigations relating to insider trading, the potential misuse of material nonpublic information and the effectiveness of the firm's insider trading controls and information barriers," the filing said.

"It is the firm's practice to fully cooperate with any such investigations."

A spokeswoman for the office of the Manhattan U.S. Attorney, the prosecutor in a broad insider-trading probe of hedge funds in recent years, declined to comment. The U.S. Department of Justice says that out of 64 people charged in the crackdown dubbed "Perfect Hedge", 59 have either been convicted or pleaded guilty.

The Wall Street Journal first reported the inquiries about Loeb and King.

Loeb's name came up during proceedings in Manhattan federal court last November as a potential witness in the Gupta case. Others who could be deposed included Goldman Chief Executive Officer Lloyd Blankfein, Chief Financial Officer David Viniar and President and Chief Operating Officer Gary Cohn, according to court records.

Rajat Gupta's lawyer, Gary Naftalis, declined to comment on Wednesday, but in court he has asked prosecutors to share any information on possible Goldman inside sources that Rajaratnam and Galleon had.

"This is hot stuff for us," Naftalis told U.S. District Judge Jed Rakoff at a January 20 hearing, according to a court transcript.

The lawyer said that if there were other people at Goldman or Procter & Gamble who provided Galleon with inside information about those companies or their clients "they constitute real exculpatory information" for the defense.

Rajaratnam, whose technology-focused hedge fund had $7 billion under management at its peak, was convicted last May and is serving an 11-year prison term, the longest ever imposed for insider-trading offenses. A judge also ordered Rajaratnam to pay $92.8 million to the SEC.

Goldman manager investigated in insider trade case: source | Reuters

Reply With Quote


futures io > > > > Goldman manager investigated in insider trade case: source

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Upcoming Webinars and Events (4:30PM ET unless noted)

Wyckoff Hunting for Great Risk/Reward Ratio w/Gary Fullett

Elite only

Digging into the Details of iSystems w/Stage 5 & iSystems

Jun 5

Similar Threads
Thread Thread Starter Forum Replies Last Post
7 charged in $62 million Dell insider-trading case kbit News and Current Events 0 January 18th, 2012 03:14 PM
New Charges Possible in Insider Case Against Gupta kbit News and Current Events 0 January 6th, 2012 11:52 AM
Tipster sentenced in NYC insider trading case kbit News and Current Events 2 December 1st, 2011 09:58 PM
SEC Dismisses Insider Trading Case Against Rajat Gupta kbit News and Current Events 0 August 4th, 2011 06:07 PM
Gupta's Insider-Trading Case Could Be Bigger Than Madoff Quick Summary News and Current Events 0 March 1st, 2011 06:20 PM

All times are GMT -4. The time now is 01:54 PM.

Copyright © 2018 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432,
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2018-05-24 in 0.09 seconds with 19 queries on phoenix via your IP