November 6, 2009 10:33 AM

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14 people charged in insider trading scam in US

In US, the FBI has charged 14 people in a case related to the 20 million dollar hedge fund insider-trading scam. In a statement, the FBI said that besides hedge fund managers, lawyers and corporate insiders, the newly charged persons included former employee of Moody's Investor Service Deep Shah. The statement also said of the 14, eight were arrested yesterday while a ninth was being sought. Five other defendants had already been charged and have pleaded guilty in federal court in New York to insider trading crimes.

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