Wall Street’s Insider Trading Tricks Spread Across U.S.
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Former Wells Fargo & Co. investment banker John Femenia was charged in Charlotte, North Carolina, last week with leading an $11 million insider trading ring that paid kickbacks in cash and gold for tips on corporate mergers.
In Santa Ana, California, former Major League Baseball player Doug DeCinces was charged last month with making $1.3 million on tips he got from an executive at a medical eye-products company. In Newark, New Jersey, U.S. prosecutors charged executives at three health-care companies Nov. 19 with trading on illegal information.