Insider Trading Scandal - What Happened?

On Thursday, March 1, 2007, thirteen people were arrested for insider trading After five years the federal authorities discovered one of the most far-reaching insider trading schemes on Wall Street. In this were involved four investment banks, a web of hedge funds, day traders, lawyers and even a few supervisors, who on discovering evidence of insider trading, blackmailed the traders to keep quiet about it. The illegal part of this deal was that these inside trading deals gave people a heads up on which stocks were doing better and worse letting them know which stocks to invest in. These inside traders were sentenced to 25years in prison