The “first woman of finance” in hot water:
Kaja Whitehouse, NY Post: Wall Street pioneer Muriel Siebert is facing scrutiny from state and federal investigators probing allegations that she paid friends to buy Siebert Financial Corp. stock in a bid to boost the brokerage firm’s share price.
Sources tell The Post that several states, including Massachusetts, Virginia and Alabama, have launched inquiries into Siebert, and her firm amid allegations of insider trading and stock manipulation, which were first reported by The Post in January… The Securities and Exchange Commission also has launched an investigation into the allegations, sources said…
There’s a tape floating around with Siebert purportedly offering to send someone $50,000 to buy her stock during a takeover play.
The tape emerged as part of an ongoing employment dispute between Siebert and her former chief compliance and chief operating officer, Nicholas Dermigny, who claims he was fired after alerting the board to his suspicions that Siebert might be toying with the stock price.
The conversation revolves around an undisclosed 2001 bid by Toronto Dominion Bank to buy Siebert Financial for $155 million.