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May 11, 2006

The Runaway Insider Trading Jury

Shades of a John Grisham novel, the insider-trading ring that I wrote about here before -- one involving a BusinessWeek printing plant mole, among other things -- continues to grow. We now have it linked to a New Jersey postal worker has been accused of infiltrating a Bristol-Meyers grand jury investigation, and then leaking the information to Goldman Sachs employees who traded on it.

As said on CNBC a few weeks ago about this when it broke, this is bigger than people think. Among many other things, this widening ring is an example of the Internet-enablement of insider trading.

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