Brooklyn man accused of using information from Bloomberg reporter for insider trading msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
An insider-trading indictment shows ties to Bloomberg News scoops
For more than six months, federal prosecutors say, a New York man used inside information to make illegal profits in the stock market and a core element of his alleged scheme was his interaction with Bloomberg News, which published several stories shortly after the trader arranged to make significant purchases of the companies’ shares.
Last month, a federal grand jury indicted Jason Peltz on multiple counts of securities fraud, money laundering, tax evasion and lying to the FBI. Peltz, 38, is accused of working with over a half-dozen unnamed and unindicted co-conspirators to learn about impending takeovers and other market-moving news, and to move money between accounts as a way to hide his role and profits.
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5 days ago Judge Eli Richardson of the Middle District of Tennessee on Monday denied a motion to dismiss by South Carolina-based Medical University Hospital Authority (MUHA) in a suit alleging that the defendant breached an agreement with plaintiffs CHS/Community Health Systems Inc. and CHSOSC LLC stipulating that the defendant would purchase the assets of four hospitals.
The plaintiffs alleged in their complaint that the defendant breached their agreement by failing to pay the full agreed-upon price of the transaction and failing to pass on communications regarding seller cost reports, among other allegations, according to the court.