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The FBI reportedly is launching a criminal investigation into certain trades made ahead of the...

The FBI reportedly is launching a criminal investigation into certain trades made ahead of the $23B deal for Heinz (HNZ). Reports have at least one trader betting HNZ would gain 8.1% through June expiry, a trade that paid off more than 18x the investment when the deal was announced Feb. 14. Names of potential traders in the cross-hairs have not been released. (earlier)
Comments (4)
  • Whitehawk
    , contributor
    Comments (3129) | Send Message
     
    As reported elsewhere, the SEC statement last week implicated a Swiss GS account.
    19 Feb 2013, 05:56 PM Reply Like
  • G DAVIDSON
    , contributor
    Comments (2) | Send Message
     
    Somebody is going to Jail!!! But if he/she were I politician it would have been just fine. Lesson, leave the insider trading to the Republicans. Should ask for the cell next to Jesse Jr.
    20 Feb 2013, 01:10 AM Reply Like
  • schatzl
    , contributor
    Comments (391) | Send Message
     
    Well, if the FBI is doing the investigation instead of merely the SEC - which is really an extension of the banking industry, you might actually end up being right.
    20 Feb 2013, 07:24 AM Reply Like
  • Black Gold
    , contributor
    Comments (542) | Send Message
     
    Why now? Obviously whoever did it wasn't part of the club. The insider trading in this market is so blatant. What about the hundreds or thousands of other insider trading incidents?
    20 Feb 2013, 07:24 AM Reply Like
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