Wednesday, December 26, 2012

..And Another Analyst Indicted .....This Time on IBM Insider-Trading Charges

From Bloomberg: Australian financial analyst Trent Martin was indicted in the U.S. on charges stemming from an alleged insider-trading scheme tied to International Business Machines Corp. (IBM)’s $1.2 billion acquisition of SPSS Inc. Martin was charged with conspiracy and securities fraud, federal prosecutors in Manhattan said yesterday in a statement. Martin also faces a civil suit over the alleged scheme filed by the U.S. Securities and Exchange Commission.

Prosecutors and the SEC didn’t identify where Martin worked when the alleged crimes occurred. According to the SEC’s complaint, Martin left a New York brokerage in September 2009 to join a “related” firm in Stamford, Connecticut, where he remained until November 2010….

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