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When you see things like this, it really makes you wonder how Altucher could ever have said they should legalize insider trading. Legalization of insider trading would just encourage this type of crime further.
Nov 05 14:38 pm
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All Comments by David White »U.K. fines UBS (UBS) £8M after staff used customer accounts to make thousands of unauthorized trades. The bank has also paid more than $42M to compensate clients for their losses. The employees "were able to take advantage of UBS' inadequate systems and controls, giving them free rein to make unauthorized trades with customer money that they were then able to conceal," FSA says. Another blow to UBS's reputation. [View news story]