The art of the insider trade deal is revealed
Demane Debih told jurors he sometimes used illegal tips to plant stories with financial news outlets, including Bloomberg News, then profited when the stories moved share prices
09 January 2020 - 11:38
New York — A failed Swiss entrepreneur revealed to a New York jury the secret methods he used to earn $70m in illegal profit from a global insider-trading network — including a safe full of cash to pay off corrupt tipsters and phony invoices for artwork sales to mask some payments.
Marc Demane Debih, testifying for US prosecutors in an insider-trading case against a New York man, described how he stole information from a banker girlfriend, planted stories with journalists and disguised illegal trades by using other people to make share purchases...
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