Business Feds bust hairdresser, jeweler on insider trader charges By Kevin Dugan June 26, 2018 | 9:54pm Getty Images/iStockphoto More On: insider trading Goldman Sachs banker charged with insider trading Leon Cooperman rails against SEC after tense legal battle Warren slams Equifax over insider-trading scandal Former Equifax exec charged with insider trading The FBI arrested a Manhattan hair stylist to the stars and two others Tuesday on insider trading charges, alleging a Wall Street pal slipped the stylist and a jeweler friend inside info on an upcoming merger, prosecutors said. Abell Oujaddou, 55, the co-owner of the tony Marie Robinson Salon — whose clients include Emma Stone and Jake Gyllenhaal — helped the trio pocket $300,000 in profits when he was tipped to Sherwin-Williams’ plan to buy rival Valspar paint. Sebastian Pinto-Thomaz, 32, an analyst at Standard & Poor’s, told Oujaddou and Jeremy Millul, 34, a Diamond District jeweler, of the $9.3 billion deal after Sherwin-Williams consulted with the credit ratings agency on the deal, court papers allege. In March 2016, Oujaddou and Millul used the illegal tip to buy stock and options in the companies, the Justice Department alleged. Millul kicked back about $3,500 to Pinto-Thomaz for the inside information, it is alleged. Lawyers for the three didn’t return e-mails or messages seeking comment. The Securities and Exchange Commission is pursuing parallel civil charges. A visitor to Oujaddou’s popular salon on 25th Street, where haircuts start at $175, saw it crowded with clients on Tuesday afternoon. Two employees there said they had not heard that Oujaddou had been arrested. “We didn’t know nothing of it, no comment,” Tiana, a manager who declined to give her last name, told The Post. “We hold our employees to the highest standards of honesty and integrity and take adherence to our compliance policies very seriously,” a spokesman for S&P said in a statement. https://nypost.com/2018/06/26/feds-...medium=site buttons&utm_campaign=site buttons
What about the legal fees, fines, prison time, and lost revenue? I'm not even sure they can claim tax deductions on them.