Newark Insider Trading Ring Busted

Last November, an insider trading ring of six individuals, three of whom had been friends since high school, were criminally charged for the white collar crime in Newark. After passing information about their companies' healthcare deals to one another, the corporate executives and business owners in the group made more than $1.4 million in illegal profits. They also passed along insider trading information to two other individuals, who made hundreds of thousands of dollars in profits after acting on the tips.

In the U.S. insider trading is viewed as a form of fraud, since corporate executives, officers, directors, and owners have a fiduciary duty to their shareholders and are thus obligated to put the shareholders' interests ahead of their own. Buying and selling stock for one's own profit, based on information not available to the public, is considered a violation of this fiduciary duty. This type of white collar crime is often investigated by the FBI and the Securities Exchange Commission, which prosecutes such crimes. An earlier example of similar white collar crimes was the case of Martha Stewart, who was accused and convicted of crimes associated with insider trading in 2004, along with her stockbroker.

Experienced Criminal Defense in New York City

If you are facing state or federal charges associated with fraud, conspiracy, embezzlement, other white collar crimes or any other type of criminal offense, your first priority should be to retain the services of an experienced defense attorney. Your freedom and future may be at stake; it is essential to understand what you are up against and what your legal options may be.

At the criminal defense firm of Hochheiser & Hochheiser LLP you can work with a legal team of experienced trial lawyers who are respected as tough litigators. With a former prosecutor on the team, these attorneys provide exceptionally skilled legal representation to those who wish to pursue the best possible case outcome. They have close to half a century of combined legal experience and are well-equipped to handle even the most complex and demanding cases. Find out more about the legal factors involved in your criminal case and what can be done in your defense. Contact the firm for a free case evaluation concerning your situation today.