Steve Neavling
ticklethewire
A former Wells Fargo investment banker is accused of tipping off investors in an insider trading scheme in exchange for gold and cash, the FBI announced Thursday.
The banker, John Femenia, was indicted along with eight accused insider traders in an indictment unsealed Thursday.
Femenia, who faces up to 30 years in prison, is accused of stealing private information from the bank that gave investors unfair advantage in the stock market, which is illegal.
Six of the defendants agreed to plead guilty and testify against the others in exchange for lesser charges.
STORIES OF OTHER INTEREST
- Former Mexican Hotel Operator Pleads Guilty in Large Investment Fraud Case
- Grantees Serviced by Justice Department Had Poorest Compliance Rate
- Antitrust Division of Justice Department Nets Record Criminal Fines
- DEA Investigating Owner of Pop Sensation Jenni Rivera’s Plane
- Man Flees After Trying to Hit DEA Officer
