No Cerveza... No Trabajo
Join Date: Jun 2002
Location: Where's my beer?
Not tied to the credit crisis but something
tells me there is a lot of butt puckering occurring on Wall Street at the moment.
Former UBS exec sentenced in NY
Monday November 3, 1:14 pm ET
NY judge sentences former UBS executive to 78 months in insider-trading scheme
NEW YORK (AP) -- A New York judge has sentenced a former UBS executive to 78 months in prison for his role in an insider-trading scheme.
Mitchel Guttenberg had pleaded guilty to charges he made millions of dollars by selling inside tips to investors.
Guttenberg was arrested in 2007 in what prosecutors called one of the biggest Wall Street insider-trading rings since the 1980s. They alleged investors were tipped off about stock upgrades and downgrades by UBS and pending deals involving Morgan Stanley clients, allowing them to cash in before the news hit the market.
The judge imposed the sentence Monday after Guttenberg expressed remorse.
My 401K is now a 400K (was 301K)