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Wednesday, November 24, 2010

Largest-Ever Insider Trading Probe Targets Goldman Sachs


Insider-trading charges are being prepared against a vast network of consultants and traders across the US financial industry in a years-long probe that a report suggests will reveal a pervasive culture of backroom dealing.

The investigation could be the largest insider-trading probe in US history, The Wall Street Journal said Saturday citing people close to the issue, with federal officials examining if multiple, organized insider-trading rings reaped illegal profits of tens of millions of dollars.

Some charges could be brought before the end of the year, the Journal said.'

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