The promise that there are more insider trading arrests to come isn’t just far-off speculation — it’s a very specific promise about action coming up shortly.
Says Bloomberg: As many as 10 more people in the securities industry may be charged as early as this week in a federal investigation of insider trading that has been two years in the making, according to people familiar with the matter. Some of those may be connected to the criminal case against Rajaratnam, the people said.
The question is: which ones aren’t going to be connected to Rajaratnam?
Are prosecutors ready to blow open totally new networks of folks doing the same thing? Or after two years, were they only able to get enough on a big group of folks engaged in 6 insider trades worth $20 million.