Saturday, December 20, 2008

Eavesdropping Husband accused of setting up $5m insider trading ring

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A broker allegedly fuelled an insider trading ring by secretly spying on his own wife's work calls...

Matthew Devlin, an ex-Lehman broker now at Barclays Wealth, has been accused by the US SEC of orchestrating a trading ring by passing on confidential information gleaned from his wife, a senior exec at PR agency Brunswick. Devlin allegedly spent four years listening in to his wife’s work calls and checking out her schedule to work out when deals were about to happen, then leaked the information to various friends of his so they could buy and sell shares. In return for these illegal tip-offs, his grateful chums showered him with expensive gifts. Not exactly the kind of tale that will rehabilitate the reputation of Wall Street’s finest with the general populace…

She was universally referred to as ‘the golden goose’, even by her own husband.

More...

Note: Eavesdropping precautions are available!....visit ComSec to learn more.

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