We'll be discussing that issue too in later posts.
Anyway, an inside look at just one angle of an insider trading racket. As you read the numbers just remember, they are the proceeds from the 401k, IRA, pensions and retail investors of millions of White Americans. Remember these crooks get trillions in bailouts while you stuggle to pay for gas to get to work. Remember it well.
The middleman worked in 1991 with Kluger at a real estate company, and then with Bauer at Weiss, Peck & Greer, a venture capital firm. The middleman was once a registered trader and later worked in the mortgage loan business, according to the FBI.
The middleman wasn’t charged, while Bauer and Kluger were accused of conspiracy to commit securities fraud, securities fraud, obstructing justice and conspiracy to commit money laundering. Both were ordered detained after court hearings.
Kluger furnished tips about deals and transactions, and Bauer “made substantial trades based on that information and then divided the profits with Kluger and the middleman,” Fishman said yesterday. He said Bauer made more than $30 million, the middleman more than $875,000, and Kluger more than $500,000.
With his profits, Bauer bought a $6.65 million condominium in Manhattan, where he conducted his trading, and an $875,000 home in Boca Raton, Florida, the FBI said.
Complete story here