Thursday, February 28, 2013

....And Another NY ‘insider,’ Goes to the Slammer

From the NY Post: Federal prosecutors charged a Long Island man with insider trading yesterday after he supposedly sold an advance earnings report to an undercover FBI agent for $7,000.  Damian Perna, 30, who works at Merrill Lynch, obtained draft earnings reports for several publicly traded firms before they were released, according to charges.

Perna, who lives in Oceanside NY,  joined forces with unidentified cohorts and used the illegal information to make a series of trades from June 2011 through last October, said US Attorney Loretta Lynch.  Officials emphasized that Perna’s alleged misconduct took place before he worked at Merrill Lynch...

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