English: Concertina razor wire at a prison (Photo credit: Wikipedia)
Inside Trader Reports to Prison - Garrett Bauer spent the past year lecturing to college students around the country about how he had crossed the line into insider trading .... and how he got caught. Yesterday, Bauer entered federal prison in Montgomery, AL to begin serving a 9 year prison sentence for being involved in an insider trading scheme that went on for 17 years. Here is how he spent his last days of freedom.
Peregrine's Founder Russell Wasendorf, Sr. Seeks Bail - Wasendorf, a one-time millionaire, will appear before a federal magistrate today to see if he can be set free on bail pending a trial or, more likely, a plea agreement. After trying to kill himself last week, Wasendorf cannot be relied upon to show up to future hearings regarding his case. Arguing his case today will be a public defender, since all of his assets are frozen and he cannot afford his own attorney. Look for bail to be denied.
Emotions High In Sentencing In Alabama on Bribery Charges - At one time, these three men were well respected citizens in their Alabama town. However, yesterday, despite calls for leniency, a federal judge sentenced those three men to prison in front of crying friends and family. The charges involved bribery related to gambling enterprises within the state.
Who Has Immunity in Libor Scandal? - The U.S. government offers incentives to individuals and companies who cooperate early in a criminal investigation. In the Libor scandal, it has been assumed that UBS was the first one to cooperate but the Barclays settlement last week suggests that the investigation may have more than one prong. Could this be an even larger problem for the banking industry?