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14 Indicted In Massive Insider-Trading Scheme

Law360 (March 1, 2007, 12:00 AM EST) -- Fourteen defendants, including lawyers, top Wall Street executives and hedge funds, were charged on Thursday with making more than $15 million through an alleged securities fraud scheme.

The defendants included a pair of married lawyers, registered representatives, compliance personnel and hedge fund managers, who traded on information stolen from UBS Securities LLC and Morgan Stanley & Co.

The case was “one of the most pervasive Wall Street insider-trading rings since the days of Ivan Boesky and Dennis Levine [from the 1980s],” said SEC Enforcement Director Linda...
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