Insider Trading Scandal - What Happened?

Well,there was a large Insider Trading network that broken up on Wall Street on March 1st.The 13 people who was charged with the trading schemes included employees at major Wall Street banks,a UBS Securities executive,Bank of America Securities representative, and a former Morgan Stanley attorney.The prosecutors said that the people are accused of security fraud, wire fraud, bribery, selling information about upcoming analyst upgrades and downgrades, giving out information about mergers and acquisitions.allocated shares of initial public offerings and secondary offerings to a hedge fund, Q Capital, for cash kickbacks.So far the prosecutors said that all 13 people had been arrested, and four had pleaded guilty.