PDA

View Full Version : Juror Accused of Inside Trading



BAMAPHIN 22
05-14-2006, 08:57 PM
A U.S. Postal Service worker was arrested and charged here Thursday with being part of an unusually ambitious inside-trading ring that allegedly netted at least $6.7 million in profits for a circle of online traders that included a retired Croatian seamstress and a Manhattan stripper.

Federal prosecutors charged Jason Smith with inside trading and one count of criminal contempt for allegedly leaking confidential grand jury information last year that affected Bristol-Myers Squibb's stock price (http://www.srch-results.com/lm/rtl3.asp?si=77&k=stock%20price). At the time, Smith was on a grand jury in New Jersey considering possible indictments against top Bristol-Myers executives.

In violation of strict secrecy rules surrounding grand jury proceedings, prosecutors say, Smith told a ringleader of the inside-trading scheme, David Pajcin, 29, details about which Bristol-Myers executives were going to be indicted and when.

Pajcin and a confederate, Eugene Plotkin, 26, an analyst at Goldman Sachs, then allegedly informed a circle of friends and family across Europe and North America to act on the information.

http://articles.news.aol.com/news/article.adp?id=20060512075209990006&cid=1976