2 Arrests Made In $1.7M Insider Trading Ring

Law360, New York (March 31, 2010, 5:35 PM EDT) -- Special agents with the Federal Bureau of Investigation have arrested two of five defendants charged in an insider trading scheme in which the participants allegedly used confidential information obtained from two investor relations firms to generate more than $1.7 million in illegal profits.

The arrests, announced Wednesday by the U.S. attorney's office for the Central District of California, come after a federal grand jury returned an indictment against four defendants on Tuesday. A criminal information has been filed against a fifth defendant, prosecutors said.

Ahmad Haris...
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