Merrill, Goldman Employees Named In Insider Trading Suit

Law360 (April 11, 2006, 12:00 AM EDT) -- An alleged $7 million insider trading scandal involving employees of investment banks Merrill Lynch & Co. Inc. and Goldman Sachs Group Inc. has been exposed by federal prosecutors, who filed a criminal complaint against those involved on Tuesday.

According to the complaint, the two complex insider trading schemes involved the illegal sharing of information between employees of the competing investment banks, as well as bribery to gain early access to Wall Street deals in a prominent business magazine.

The schemes were allegedly orchestrated by former Goldman...
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