Business

IBM And Intel Executives Arrested For Insider Trading

By Chris Jacob on October 17, 2009 at 8:55 AM

Six people in total were arrested today for making too much money too easily, among them executives from IBM and Intel. These guys made $US20 million in profits between January and July 2007 by passing insider info regarding Google, Hilton Hotels and Polycom onto a trader. Now they’re all facing multiple counts of conspiracy and securities fraud.

Considering the hedge fund manager behind the trades was ranked number 559 on Forbes’ World Billionaire list, something tell me these guys could have done without the hassle and made a little less by trading the old-fashioned way: guessing. [The Register and GigaOM]

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