Matthew Teeple, a former analyst at a San Francisco-based hedge fund who was accused of taking part in a $27 million insider-trading scheme, admitted that he passed on a tip about Foundry Networks Inc.’s acquisition of Brocade Communications Systems Inc. on which others traded.
Four security industry executives knew they were joining an illegal business deal by agreeing to make payments to a Gabonese official, a prosecutor said at the start of the biggest prosecution of individuals for bribery of foreign officials.
U.S. prosecutors asked a judge to dismiss the convictions of three men who pleaded guilty in a foreign-bribery sting, a month after abandoning the case against 19 others charged in the same alleged conspiracy.
Royal Bank of Scotland Group Plc’s interest-rate traders were seated with one of the main rate setters in its London office to share information, and discussed rates on conference calls, a fired trader said.
Barclays Plc, the U.K.’s second- largest lender by assets, paid investment bankers bonuses “incapable of justification” as employees focused on revenue at the expense of clients, according to an internal report.
The U.S. Justice Department, fresh from convicting Galleon Group LLC’s Raj Rajaratnam with the unprecedented use of wiretaps on Wall Street, leveraged similar tactics to charge security industry executives in the biggest prosecution of individuals for foreign bribery.