FBI Nabs 4 For Insider Trading On Albertson's Sale

Law360, New York (February 5, 2009, 12:00 AM EST) -- The FBI has arrested four traders on charges of conspiracy and securities fraud related to alleged insider trading in connection with the 2006 sale of supermarket chain owner Albertson’s Corp.

Konstantinos Paparrizos, Michael G. Koulouroudis and Joseph Contorinis, a former portfolio manager for a Jefferies Group Inc. hedge fund, were arrested Thursday.

Nicos Achilleas Stephanou, a former officer at UBS Investment Bank, was arrested in December in connection with the alleged insider trading and has been cooperating with authorities, the FBI said.

UBS provided investment services...
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