Is High-Frequency Trading a Crime?

Last Friday, U.S. Attorney General Eric Holder appeared before a congressional hearing and told the congressional representatives that the Justice Department was looking into the practice of high-frequency trading to determine whether the practice violates insider trading laws.  This is an issue that the Securities and Exchange Commission and the Federal Bureau of Investigation are […]

Judge in Stevens Case Appoints Special Prosecutor

After excoriating Department of Justice prosecutors for their conduct in the prosecution of former Alaska senator Ted Stevens, the presiding judge, District Court Judge Emmet Sullivan, appointed a special prosecutor to investigate the alleged misconduct of the prosecutors. Earlier this week Attorney General Eric Holder had announced the dismissal charges against Stevens due to the […]

New York AG Sues Feeder to Madoff Fraud

The New York state attorney general has filed a civil suit in state court charging money manager and philanthropist J. Ezra Merkin with fraud and breach of fiduciary duty based on New York State law. The complaint alleges that Merkin fraudulently invested approximately $2.4 billion with convicted fraudster Bernard Madoff and fraudulently derived management fees […]