Word: indictmente
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Five months ago, R. Foster Winans, a writer for the Wall Street Journal's influential stock market column, "Heard on the Street," was fired after admitting to federal investigators that he had taken improper advantage of his position. Winans confirmed that he had leaked information about upcoming column items...
It is a generally accepted ethical rule that journalists must not trade in stocks they report about, especially under circumstances that would allow them to profit from the effects of publicity. But the notion of an implied contract with readers is potentially so sweeping and vague that attorneys representing organizations...
When the story of Winans' improprieties broke in March, co-workers suggested that he might have been the dupe of sophisticated traders and investment analysts whom he interviewed for his column. But in May the SEC charged in a civil suit that two stockbrokers who shared in the scheme...
In contrast to these modest sums, the later scheme allegedly reaped almost $700,000 in net profits. Brant pleaded guilty to conspiracy and fraud in July, agreeing to pay a penalty of about $450,000 in profits, to give up the securities business permanently, and to cooperate in the prosecution...
For nearly a decade, Joseph Diego Ramirez, 37, has ranked as one of the softest touches in Princeton, Minn. (est. pop. 3,200). He contributed a reported $10,000 to landscape city hall with new lawns and tropical palms, leased two Volkswagen Rabbits to the police force for $1 a...