Its Jasper Capital owner David Glass and his goons. That's why he took 2M out of Assent a few weeks ago
Before this turns into a rumor mill.... DOJ: 13 Individuals Charged In Insider Trading Schemes Mar 1 at 12:18 Profile hits: ALL Company Symbols: BAC BSC MS UBS UBSN.VX CH0024899483 US0605051046 By Chad Bray and Siobhan Hughes, Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Federal authorities have charged 13 individuals on insider trading charges in connection with two separate schemes to trade on inside information about analyst recommendation changes before they became public and pending mergers and acquisitions, according to court documents. The individuals charged include a Morgan Stanley (MS) lawyer and her husband, an institutional client manager in the equity research department UBS AG's ( UBS) securities unit, registered representatives in the securities businesses of Bear Stearns Cos. (BSC) and Bank of America Corp. (BAC) and several hedge fund employees. The charges include conspiracy, securities fraud, commercial bribery and making false statements, according to court documents. The two schemes allegedly generated $8 million in illicit profits. The individuals are Morgan Stanley lawyer Randi Collotta and her husband Christopher; Mitchel Guttenberg, UBS institutional client manager; David Tavdy, an individual living in Queens and Miami; Robert Babcock and Ken Okada, Bear Stearns registered representatives; Paul Risoli of Bank of America; Erik Franklin of hedge fund Q Capital Investment Partners; David Glass of Jasper Capital; Mark Lenowitz of Chelsey Capital; Samuel W. Childs Jr. and Laurence Mckeever, both of broker-dealer Assent LLC; and Marc Jurman of an unnamed Boca Raton, Fla., brokerage firm. Prosecutors are expected to lay out more details about the allegations at a press conference Thursday. The Securities and Exchange Commission separately filed civil charges against 11 individuals and three entities in the two schemes. Four of the individuals charged are cooperating with the probe, a person familiar with the investigation said. -By Chad Bray, Dow Jones Newswires; 212-227-2017; chad.bray@dowjones.com (Carol Remond contributed to this story.) (END) Dow Jones Newswires 03-01-07 1218ET Copyright (c) 2007 Dow Jones & Company, Inc.
This isn't a rumor. It's all true. It was also on CNBC this afternoon with Erin Burnett. David Glass, owner of Jasper Capital, is busted.
Let me guess, the morons decided to use an NYC firm to make the trades, spoke on cellphones, possibly emails & IM, had a previous connection to each other, high school or college. They made blatant purchases, stock & option and were on the radar right away. Is it really a wonder they got caught?
here is what makes assent look bad. Read with their employees have been alleged to have done. http://www.forbes.com/home/business/2007/03/01/wall-street-scammers-biz-cx_lm_0301scammers.html
It effects everyone when all those cars are recalled and the feds shut them down. How about the SEC clamping down. Great analogy.