Wednesday, September 23, 2009

SEC Files Insider Trading Charges Only 5 Days After the Trade!

Wow, this has got to be a record. The SEC announced today that it charged Richardson, Texas resident Reza Saleh with insider trading around the public announcement of Dell Inc.'s tender offer for Perot Systems earlier this week.

The trades occurred between September 4 and September 18 OF THIS YEAR! Just 5 days ago.

The press release says that the "overwhelming evidence in this case allowed the SEC to move quickly." That must be some mound of evidence. I am involved in insider trading investigations where the trades took place years ago.

Maybe the Madoff Mess has a silver lining afterall. An Enforcement Division that has the resources to move quickly?  More>>>

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