Frontrunner Stokes get nailed by Feds. Crime doesnt Pay (ahem)

Discussion in 'Wall St. News' started by stock777, Feb 27, 2007.

  1. how on earth did they detect him frontrunning? just saw multiple profitable trades before news releases on multiple securities from a single account? but how is that different from the person who guesses before market news and gets lucky often?
  2. fibo618


    Well done the SEC, another minnow not even in the US!

    What about all the shares and options traded last week in TXU just before the takeover was announced, that was 100 times what this guy made.

    Pathetic as normal.
  3. Baron

    Baron ET Founder

    I'm sure that guy's trade size is what tipped them off. If he made profits of $2.7 million, he was doing some pretty serious size to get that much money in the course of just a month.
  4. blast19


    This must have all stemmed from a suspected breach in security and been tracked. It must have started there and followed through to the trading account opened by the firm.

    See "Garcia" in here? He's big in naked shorting, all the stuff. This is the District in NY w/the balls. I hear they stepped on their dicks bigtime here. If the DOJ hits them, they'll wish they stayed in Switzerland. I won't mention the history of stealing from Holocaust victims, but I'm thinking about it.

    I have a history on ET about bitching about stuff like this. If we don't stand up as a constituency and do something, these idiots will destroy the whole system. As Barton Biggs points out in "Hedgehogging", it is distinctly possible the public walks away for a generation. they've done it before.

    The amount of greed without any supervision or suitable punishment is appalling.