Jay Z And Company Overvalued Tidal In Violation Of SEC Rules

Usher, Rihanna, Nicki Minaj, Madonna, Dead5Amu, Kanye West, Jay Z and J Cole (also known as Hollywood's self-professed "Illuminati")

The SEC rules of trade in America states it is illegal to overvalue a company. It misleads the public and potential investors, who could lose their shirts. Rapper Jay Z and Madonna, both U.S. citizens doing business in America, have been greatly overvaluing their failing music streaming company Tidal, in violation of SEC rules. As stated in the column yesterday, Jay Z greatly overvalued former company Rocafella, claiming it was worth $125,000,000 but had to admit the truth when a business newspaper exposed its true worth at $25,000,000.

Jay-Z

Jay Z stated Tidal has 57,000 subscriptions. Each subscription is between $9.99 to $19.99. He has been lashing out against people bashing the company and not supporting it. However, if he indeed had 67,000 subscriptions, the company would not be in the financial trouble it is in with the CEO and nearly two dozen executives running for the exit last month. $670,000 to $1,340,000 per month in revenue. Over the course of one year that would be $8,040,000 to $16,080,000 in revenue per year. That would not be a company in distress. Jay Z just told on himself.

RELATED ARTICLES

Madonna's Pedophilic Kabbalah Center (Google Case)

Jay Z And Madonna’s Tidal Officially Branded A Bad Business Move And Flop By The Mainstream Press

Jay Z And Madonna's Failing Tidal Music Service Is Hemorrhaging Money While Inadvertently Increasing Rival Spotify's Revenues

Snoop Dogg's Son Slams Jay Z, Beyonce, Rihanna And Madonna For Being Greedy And Not Caring About The Public (Tidal)

Congress Reintroduces Songwriters Equity Act Legislation But Will It Stem The Wave Of Copyright Infringement In Hollywood 

Pharrell Williams Is A Chronic Copyright Thief But Is Protesting $7,300,000 ‘Blurred Lines’ Verdict Obtained By Marvin Gaye Estate

Copyright Office Corrupted By Madonna And The Kabbalah Center Issuing Bribes To Employees To Backdate Registration Dates And Access Private Copyrights

Serial Copyright Thieves Beyonce And Jay Z Sued For Stealing 'Drunk In Love' And Even Including A Clip Of The Original Artist's Voice On The Track

Rihanna Slammed For Stealing The Song 'B***h Better Have My Money' Which Is The Latest In A Long Line Of Thefts (Audio Comparison)

Beyonce Steals Again But This Time From Sam Cooke, En Vogue And A European Artist

Rihanna Sued Again For Stealing Copyrights Accused Of Theft Of 'Rockstar 101' Video

Beyonce Steals "Countdown" Music Video From European Artist's Work

Rihanna Sued Again For Stealing Copyrights For Music Video S&M

Beyonce Knowles Settles Copyright Infringement Case

Beyonce Keeps Stealing From The Braxton Family

Producer: Beyonce Stole Credit For Bootylicious

Jay-Z And Mary J. Blige Sued For Stealing Song

Rihanna Stole New Video From Photographer

Butt Shaking Beyonce Strikes Again

Beyonce Sued For Racketeering

Rihanna Sued Over Video Theft

Rihanna's Wretched Rip Off

Jay-Z Robbing People Again 

Report: Manchester United Under Investigation On Wall Street Over Firing Manager David Moyes Which Resulted In Shares Rising

David Moyes

Reports online indicate century's old English football club Manchester United is under investigation on Wall Street by the SEC, over Monday's firing of manager David Moyes, resulting in shares rising. The sudden increase created an infusion of cash to the tune of $200,000,000, catching the regulatory board's eye.

Alex Ferguson

There's nothing to investigate. If you follow English football you'll know Manchester United saw their side suffer unprecedented defeats under new manager Moyes. As a result, many lost confidence in one of the oldest and most famous football clubs in the world. When Moyes was terminated on Monday, people became hopeful the club's fortunes would turn around and return to what it was last season when they won the title and Champions League. 

Ryan Giggs

Moyes' sacking has been the talk of social networking dominating Twitter this week. Several hash tags on Twitter concerning him trended highly for two days in a row. The attention attracted new investors. Football legend Ryan Giggs is the interim manager until a permanent replacement is chosen.

RELATED ARTICLES

David Moyes Fired As Manager Of Manchester United Affirming This Site's Previous Claims

 

Sir Alex Ferguson's Insightful Interview With Charlie Rose

The Obama Administration And The Foreclosure Crisis That Is Hitting Homeowners In Three Ways

    

Barack Obama

In my experiences with trying to help friends save their homes from foreclosure and or foreclosure auctions, I have witnessed banks pull just about every stunt in the book against homeowners. The Obama Administration has not done enough to rein in certain banks, who are not acting in the best interest of homeowners.

There are three main issues to consider in attempting to save a home, mainly via mortgage modifications. The three issues are the mortgage/payment, back taxes and insurance. Cities in America are demanding yearly property taxes that are due and banks are refusing to grant modifications without back taxes and or missed insurance payments being paid and brought current. 

City tax collectors are even foreclosing on homes whose mortgages are current, but taxes are delinquent. Some of the amounts owed are relatively small, yet properties are being seized and auctioned to satisfy the amount, as the homeowner placed their limited resources into making mortgage payments. 

It seems homeowners in America can't win and it is up to the government to make laws to help people in this regard or millions more foreclosures are on the way. If the federal government (FBI, DOJ and SEC) had done their jobs in properly regulating and investigating the practices of banks and the corporate sector on the whole, the sub-prime crisis would not have happened and millions of people in America would still be in their homes. Therefore, it is the government's duty to fix a problem that is raging out of control and damaging millions of people. However, the past four years have indicated the Obama Administration is unable to fix the problem that can be fixed.  

RELATED ARTICLES 

Documentary Film 'Obama's America 2016' Rakes In Millions At The Box Office

U.S. Economy Is Stagnating In A Troubling Pattern And Cycle Of Corruption

The U.S. Economy Takes Another Nose Dive On Dismal Job Numbers And Negative Manufacturing Data

Pollster States If The U.S. Economy Does Not Improve Barack Obama Will Lose The Election To Mitt Romney

Barack Obama In Over His Head With The Economy And In Need Of Help

U.S. Economy Adds Fewer Jobs Than Expected In A Significant Slowdown

Mitt Romney Ad Slams Barack Obama For High Unemployment Among Minorities

Ben Bernake Rings Sobering Alarm On The Dismal State Of The U.S. Economy

Joe Biden: We Can't Replace The 8 Million Jobs Lost

Ben Bernake Didn't See The Financial Crisis Coming

Bernake Defends Reckless Spending

Obama Calls For Job Summit

Unemployment Up To 9.8%

U.S. Unemployment Continues To Rise

The Benefits Of Government Cost Cutting

 

GDP Data Shows The Recovery Failed

Artificial Growth

Artificial Growth - Part 2

Too Big To Fail Or Go To Jail - Part 2

 

Barack Obama

Some companies in the corporate sector think they are "too big to fail." However no company is "too big to fail." Looking back through corporate history there are on companies that have collapsed and closed, such as Enron, WorldCom and Washington Mutual, to name a few, who were once thought to be invincible.

Those were all big companies that failed, collapsed and are now gone. A memory. No company is too big to fail, but it is a lesson the corporate sector has not truly learned, taking dangerous risks on financial instruments that devastate economies. Some corporations have become too corrupt to stay in business, but their haughty way of thinking they are "too big to fail" or go to jail, will be their downfall.

RELATED ARTICLE

Too Big To Fail Or Go To Jail

Madonna's MDNA Album Only Sold 19,000 Copies In Week Two And Tour Sales Have Bombed Damaging Live Nation

 

Madonna

As the Judiciary Report exclusively reported on April 18, 2012, Madonna's record label Interscope is, "So concerned about her inability to sell, having no faith in the raggedy, tired, trite album and singer, they decided in advance to pull a scam as a cover-up" and "word is Interscope wants to drop her."

Two days later on April 20, 2012, Gigwise wrote about it in detail, as it pertains to Live Nation, a company that is also involved in the Interscope deal, "Madonna signed a $120million deal with Live Nation in 2007, and the company looks unlikely to see a return on their investment from her current project."

Upon the announcement of deal in 2007, the Judiciary Report predicted Live Nation would suffer losses for signing such a stupid, costly contract with Madonna, whose career is all smoke and mirrors - not to mention serious financial fraud and criminal copyright infringement. At the time the Judiciary Report published the article online, Live Nation didn't listen and signed the deal anyway. Months later Live Nation's stock plunged.

Now it has been revealed, Live Nation will not see any profit from the $120,000,000 deal they gave Madonna, as her new album "MDNA" has bombed and her tour tickets are selling very poorly. Then there's the criminal liability from Madonna's reckless actions, which will expose Live Nation to serious problems. They, like many STD saddled men around the world, have learned a hard lesson - they should not have touched her. 

Madonna richly deserves what has happened, as she is a greedy, vile thief who has destroyed many people's careers via stealing their copyrighted music, videos, photographs and films, which are crimes under domestic and international law. It is just that she loses her career as well and more people than ever know she is a complete fraud. You reap what you sow. Madonna's past four albums over the last 11 years have flopped ("American Life" "Confessions On A Dance Floor" "Hard Candy" and "MDNA").

Live Nation did no real due diligence in signing Madonna. They did not do their homework. However, they can sue her for fraud and SEC violations, in supplying them with falsified and inflated sales data to procure a financial deal she was not worthy of in any measure.  

The U.S. Economy Is Being Called A Big Ponzi Scheme

U.S. President Barack Obama Has Failed To Curb Fraud And Theft In Corporate Sector

Over the past week, both the Al Jeezera news network and convicted fraudster, Bernie Madoff, have called the U.S. economy a "ponzi scheme." That’s a very serious indictment, regarding the state of the nation’s financial affairs.

There is some merit to their statements. For years the Judiciary Report has stated, there are many companies on the stock market in Corporate America that are fraudulent and serving no real function, other than defrauding and gouging people.

They are eating away at the country’s productivity and national output. The SEC and FBI, charged with investigating and weeding out criminals in the marketplace, have become so corrupt, blatantly crooked companies are allowed to remain in the corporate sector, among legitimate corporations. These fraudulent companies that thrive on stealing are wreaking havoc on the economy.

The conflicts of interest present are astounding as well. Last week, U.S. Attorney General, Eric Holder, announced there would be no charges against Angelo Mozilo, the former head of Countrywide, a company that played a significant role in the 2008 Financial Crisis. Mozilo made off with close to $200,000,000 in ill-gotten gains, after helping to destroy the top economy in the world.

A few days ago, it was announced, the top lawyer at the SEC, David M. Becker, was personally profiting from Bernard Madoff’s crimes and has been sued as a result. However, he should be indicted. The Judiciary Report was the first to state after Madoff's arrest, the US government knew of his criminal conduct for some time, but looked the other way. There’s a reason for that - they were getting paid to do so. It's called bribery and "Too big to fail."

America still has a number of real companies churning out successful products in the marketplace, but gone are the days when the nation was number one in this regard, dominating international trade and finance. This is due to the fact, the government has allowed criminals to take root and fester in the corporate sector, who are in essence, stealing a living, not earning one. They are criminally taking from hardworking people, to fund their lavish lifestyles, while deteriorating true wealth via theft.

A new breed of crooks have mixed in with genuine companies on the stock market and in the marketplace, with the motto of "steal, steal, steal!" Some may refer to such criminal conduct as shrewd and clever, but how good can it be in light of the fact it brought down a whole nation and destroyed its once prosperous, top ranked economy. This ought not to have happened, but it did, because the government foolishly allowed it for devious reasons that have not panned out.

STORY SOURCE

Al Jeezera On US economics: One big Ponzi scheme

Madoff to NY magazine: Government a Ponzi scheme

Attorney General Eric Holder Is Countrywide Chief's Most Valuable Friend

SEC's Top Lawyer Becker Sued for Inheriting Madoff Ponzi Profits

RELATED ARTICLES

Madoff’s Madness

S.E.C. Ignored Warnings About Madoff

Another Madoff Surfaces

The Government Was Complicit In R. Allen Stanford's Crimes

How George Bush Destroyed The U.S. Economy

China And Russia Dump The U.S. Dollar

Obama Calls For Job Summit

Artificial Growth - Part 2

U.S. Debt To Surpass American Economic Revenues

GDP Data Shows The Recovery Failed

What Is Obama Going To Do About The Deficit

The Benefits Of Government Cost Cutting

The Government Was Complicit In R. Allen Stanford's Crimes

R. Allen Stanford

The Judiciary Report has been proven right again in another exclusive claim. The Judiciary Report contended on May 2, 2009, that the U.S. government knew of R. Allen Stanford's ponzi scheme years in advance, yet looked the other way to the corruption, knowing it was damaging thousands of innocent people, who lost their life savings (R. Allen Stanford Double Life).

A U.S. State Department cable, leaked THIS WEEK by Wikileaks, reveals the government knew what was going on for YEARS and did nothing to stop it. Under domestic and international law, the U.S. government was bound and obligated to charge, detain and prosecute Stanford, as a citizen of the United States, engaging in criminal breaches of local and foreign law.

R. Allen Stanford after he was beaten in prison and rushed to the hospital

However, due to Stanford's ties to former President, George W. Bush, ensconced in office at the time, the State Department and FBI, who by law should have brought him in, allowed him to reek havoc on the finances of hard working everyday people in America and the Caribbean.

The Judiciary Report was also the first site to state, the FBI and SEC, knew of the egregious crimes of ponzi schemer, Bernard Madoff, but looked the other way to it for years, which compounded the damage (S.E.C. Ignored Warnings About Madoff). Weeks after the Judiciary Report published the aforementioned article (Madoff’s Madness), the site was proven correct, when reports surfaced in the mainstream press, illustrating the fact the federal government had received detailed and credible complaints listing Madoff's crimes, as early as 1998, but looked the other way.

The government did this, as Madoff was deemed too big to fail and too important to go to prison. It wasn't until Santander Bank in Spain informed the ponzi schemer they would be sending a contingent to New York, regarding their investment with his company, that Madoff came clean and concocted a plan to have his sons, via them turning him in as clueless victims, to save themselves from prison.

The U.S. government is also hiding another fact - there is still another Madoff lurking in the corporate sector that they are refusing to bring in, as he is well connected in Washington, due to the money that illegally sprang from his crimes. No one in their right mind would call that success.

RELATED ARTICLES

Madoff’s Madness

S.E.C. Ignored Warnings About Madoff

Another Madoff Surfaces

Weekend At Bernie Madoff's

STORY SOURCE

WikiLeaks cables: US suspected Allen Stanford long before ECB deal

China And Russia Dump The U.S. Dollar

Russia's Vladimir Putin and China's Premier Wen Jiabao

In a sad but foreseeable turn of events, China and Russia have dumped the U.S. dollar as their nation's international currency of choice. The U.S. greenback was universally accepted as the world's official currency. However, the global economic downturn that began in America in 2008, due to corruption and fraud in the corporate sector, has caused a number of nations to rethink their financial strategies, as a means of protection.

This news does not bode well for the dollar. For well over a year, the Judiciary Report repeatedly warned that excessive Obama Administration spending, coupled with the rampant fraud in the corporate sector, which the FBI and SEC refuses to clean up, would have disastrous effects. This is just the tip of the iceberg.

RELATED ARTICLE

President Obama: Spend The Nation Out Of Debt

STORY SOURCE

China, Russia quit dollar

Obama Slams Republicans While On Vacation

Barack Obama

Never mind the economy is in the toilet, U.S. President Barack Obama is phoning home insults about rival Republicans, labeling them the party for the rich, whilst he vacations in a posh part of the American state, Maine. Clearly, the irony of that was lost on the President. Considering Obama is now rich as well, thanks to book and other deals, that dig didn't resonate as he intended it to do.

Obama has stated, the Republicans are holding back America's progress and he is right. But so are the Democrats. Congress as a whole, through poor oversight, inadequate policies and full-on corruption, brought America to this place.

Obama is killing that ice cream

So yes, the Republicans AND Democrats in Congress are to blame for holding back America's progress, not the American people, who work each weekday to pay their taxes, only for Congress to blow it on things the people do not approve of in the least.

Congress has exhibited no real control over the FBI and SEC, who are supposed to police and prosecute crimes in the financial sector. As a result, greedy financial criminals wreak havoc on the economy via ponzi schemes, bad mortgages, theft and very risky investments.

Work Hard And You Will Succeed?

U.S. President Barack Obama

The 2008 financial crisis bankrupted a lot of innocent people, who lost their life savings, pensions, kids tuition funds, homes and cars. People worked hard, saved their money and lost everything, due to greedy people in the corporate sector that flouted the law and shunned human decency.

People promote hard work as the way to success and it is in society. However, that message is greatly diminished, especially for the youth in society, via the horrible example the government has set, in allowing people in the corporate sector, who have engaged in egregious financial crimes that harmed many in the America and the world, to roam free and continue to take advantage of hardworking people.

Congress, the FBI, DOJ and SEC, have shielded the majority of financial criminals in the corporate sector from accountability. Shame on you. Shame on you, indeed. Which path do you expect kids will aspire to walk down when they see such hypocrisy and corruption coming from the government.

U.S. Stock Market Plummets 1000 Points

Vice President Joe Biden (left) and President Barack Obama (center)

The U.S. stock market wildly fluctuated today, even plummeting 1,000 points at one point, on the news of economic turmoil coming out of Greece and the massive oil spill on the east coast of America.

America is steeped in a terrible financial depression, where historic records have been set in the number of foreclosures and company collapses. Certain U.S. states have also recorded a record number of job losses. Yet, during this financial turmoil, the U.S. stock market kept soaring, with seemingly nothing to back it up.

Greece Riots

The U.S. Financial crisis of 2008, which began in Corporate America, has negatively impacted America and the world, in an ongoing and devastating depression that has not yielded. The fallout from which, can been seen today, in riots currently transpiring in Greece. Other nations such as Britain and Iceland have suffered massive job and economic losses.

An international effort is needed to create failsafes for the global economy, lest the same crisis reboots itself in America, but at worst levels and spreads all over the world again (as predicted last week).

Greece Riots

Wall Street is in dire need of regulation. There is still a massive amount of financial fraud in Corporate America. The SEC, FBI and DOJ, have done a terrible job in stemming the problem, costing millions in America and the world, all they have worked for in their lives.

This simply is not moral, just or decent. It poses a severe danger to the economic survival and development of the world and something needs to be done. There is no such thing as easy money. It always comes at a price. There is no substitute for hard work and honesty.

Cash Advance Engaging In Financial Fraud

Beware of the company Cash Advance that also goes by the name Advance America (www.advanceamerica.net). This company gives out advance payday loans, whilst holding personal checks from customers in the event one does not repay the $500-$1000 loan.

However, they have been engaging in corrupt business practices. They have been repeatedly sending in some customers checks days and weeks earlier than the agreed upon loan repayment deadlines, creating massive overdrafts in customers bank accounts.

These are serious financial crimes, which are violations of Federal and local laws. As such, the public needs to be very careful of this company, as they can end up costing you hundreds of dollars in bank overdraft fees, defeating the financial purpose they claim they are assisting you with. They are unreliable and untrustworthy.

The F.T.C. and S.E.C. would do well to watch this company, as its employees are dishonest with money and robbing the American public, via predatory penalty and overdraft fees, during a national financial crisis.

Congress Barks At SEC And FBI Over Economy

The U.S. Congress barked at the FBI (Federal Bureau of Investigation) and the SEC (Securities Exchange Commission) in a hearing yesterday, regarding the snail pace of their investigations and gross lack of prosecutions, for the financial crimes plaguing America.

I for one am not amused at the rate in which the government is addressing the fraud in Wall Street and Corporate America as a whole. Business people such as myself and also investors, who have been damaged by the white collar crime permeating the business sector, defrauding us out of very valuable assets and money, at the hands of thieves, have a right to be angry, as it is our livelihood and finances going up in smoke, due to government failures and treachery from agencies such as the FBI.

At the heart of the problem in the FBI and SEC's corrupt belief that certain criminals are too connected to be arrested and it is massively hampering any financial recovery America could make domestically and in the world. As such, the whole nation is paying for the crimes of politically and socially connected thieves.

Had Bernard Madoff's family not turned him in to spare themselves, due to investors circling him, suspecting their money was gone, he'd still be running the ponzi scheme today, as it was publicly proven after the scandal hit at the end of last year, the FBI and SEC knew of his misconduct a decade ago and let it continue, due to Madoff's connections and him being too rich to be brought down. Never mind he wasn't really rich, as he was stealing thousands of people's assets and money. This same treachery repeated itself in the R. Allen Stanford ponzi scheme. Stanford is connected to George W. Bush, as was Enron.

The FBI and SEC can testify in Congress two million times regarding what they plan to do, but until the public sees any real action, it will be filed under "hypocrisy" and "talk is cheap." The nation's name in the financial world is severely damaged, yet the two agencies responsible for addressing the matter are ineffective, incompetent, corrupt and simply do not care. They, in tandem with former President George W. Bush, are why the crisis happened and due to the standing policies he left behind, will happen again.

Lawmakers Pursue Financial Crisis Prosecutions

December 9, 2009, 7:39 pm - Members of the Senate Judiciary Committee questioned three of Wall Street’s top cops on Wednesday, including Robert Khuzami, the enforcement director of the Securities and Exchange Commission, in an effort to examine why they had not done more to prosecute individuals and securities firms that may have played a part in creating the financial crisis.

Several senators said they were frustrated by the lack of prosecutions of high-level officials, bankers and corporate board members, who they believe acted improperly during the crisis.

Mr. Khuzami, along with Lanny Breuer, the assistant attorney general of the criminal division at the Justice Department, and Kevin Perkins, the F.B.I.’s assistant director in charge of its criminal investigative division, told lawmakers that they had stepped up their enforcement efforts amid the fallout from the crisis and pleaded for more time in establishing cases against individuals and corporations that may have acted improperly during the crisis.

“Why aren’t we seeing more board room prosecutions?” Senator Ted Kaufman, the Democrat from Delaware, who headed the hearing, asked the three men.

“Senator these are complicated cases — don’t for a moment think that they are not being pursued and investigated,” Mr. Breuer responded. “The folks that perpetrated these crimes took a long time in hatching and developing — and bringing the cases will take a long time, but they will be brought.” ...

Mr. Perkins from the F.B.I. said a new interagency financial fraud enforcement task force created last month would help in speeding up the process and could lead to more prosecutions down the road.

“We have a good bit of liaison already between the groups,” Mr. Perkins said, but the task force “will force us to come together, share that information and employ that sense of urgency” when it comes to issues of financial fraud...

http://dealbook.blogs.nytimes.com

SEC's Khuzami: Enforcement Unit Undergoing 'Self-Assessment'

* DECEMBER 9, 2009, 2:00 P.M. ET - WASHINGTON (Dow Jones)--The Securities and Exchange Commission Enforcement Division, embarrassed by its failure to spot the multibillion dollar Ponzi scheme perpetrated by Bernard L. Madoff, is undergoing a "top-to-bottom" self-assessment, the division's director is expected to testify Wednesday.

Robert S. Khuzami, in prepared remarks before the U.S. Senate Judiciary Committee, outlined a number of steps the agency is taking to reorganize itself...

The Justice Department currently has mortgage fraud charges against roughly 500 defendants and the FBI is working on 2,700 additional cases, U.S. Assistant Attorney General Lanny A. Breuer is to testify.

Meanwhile, the FBI has more than 2,100 pending Corporate and Securities Fraud investigations across the country, Assistant Director for the FBI's Criminal Investigation Division Kevin L. Perkins plans to say.

Since the fall of 2007, "the FBI has effectively combated significant frauds on various fronts," Perkins plans to argue...

http://online.wsj.com

Biggest Insider Trading Arrest In History

The FBI perp walking Raj Rajaratnam (notice, they sent an Asian FBI dude. Just like when they are arresting a woman they send a female agent)

The FBI arrested billionaire, Raj Rajaratnam, in New York, along with some of his key employees, on massive insider trading charges, in a case labeled the biggest ever of its kind.

Rajaratnam bribed employees of various conglomerates for inside company information, enabling him to make substantial sums of money on the stock market.

His name also came up in a terrorism probe, as having contributed to a charity that funneled money to the Liberation Tigers of Tamil Eelam. Yea, so he's pretty much up a creek.

Still humiliated from national and international condemnation for their poor handling of financial regulation in the corporate sector, the SEC and FBI, have been arresting people, left, right and center all over the country.

Over the past few months, there have been several notable arrests made, on ponzi scheme charges, totaling several hundred million dollars in damages, much of which investors will never see again.

Side Bar: among the companies, Raj Rajaratnam, is accused of bribing employees for insider information is McKinsey & Company. The name rang a bell. Upon doing a search of the Judiciary Report's article archives, their name came up as the consultancy firm hired by Hillary Clinton during her failed presidential bid. We all know how much Hillary loves inside information.

Hedge Fund Chief Is Charged With Fraud

Published: October 16, 2009 - By all appearances, Raj Rajaratnam was a self-made billionaire, having built Galleon Group into a giant hedge fund with a specialty in technology companies.

But prosecutors said on Friday that he had profited not from his trading genius but from his Rolodex, and they arrested him on charges of conspiracy and securities fraud in what they called the biggest insider trading scheme ever involving a hedge fund.

In all, six people were arrested, accused by prosecutors and the Securities and Exchange Commission of earning more than $20 million from illegal trading in companies like Google, Akamai and Hilton Hotels over nearly three years...

Mr. Rajaratnam is accused of tapping a vast network of informants across a swath of corporate America: a senior official at I.B.M. considered a contender for the top job at that firm; executives of Intel and the consulting firm McKinsey & Company; two former Bear Stearns employees who had moved to a hedge fund, New Castle Partners; and an analyst at Moody’s Investors Service.

While trading secrets, though, one crucial piece of information was not shared — several of the phones were tapped.

The wiretaps were made with the help of an unnamed cooperating witness, a former Galleon employee who was said to ply Mr. Rajaratnam with information originally to land a job. The witness, who began cooperating in November 2007, has agreed to plead guilty in the hopes of receiving a lesser sentence.

“This case should serve as a wake-up call for Wall Street,” Preet Bharara, the United States attorney for the Southern District of New York, said at a news conference on Friday. He added that the investigation was continuing...

http://www.nytimes.com

Rajaratnam Surfaced in U.S. Terrorism Probe

OCTOBER 18, 2009, 4:37 P.M. ET - WASHINGTON -- The hedge-fund billionaire charged as part of a vast insider-trading case surfaced in an earlier, separate probe into U.S. fundraising by a Sri Lankan terrorist group, people familiar with the probe said.

As part of that investigation, federal agents said they uncovered documents showing that Raj Rajaratnam, founder of the Galleon Group, was among several wealthy Sri Lankans in the U.S. whose donations to a Maryland-based charity made their way to the Liberation Tigers of Tamil Eelam, according to people familiar with the probe.

The LTTE, commonly known as the Tamil Tigers, fought a brutal separatist war carrying out suicide bombings and political assassinations against the government of Sri Lanka from 1976 until it was defeated in May...

http://online.wsj.com

Madoff's Bad Call

A recently released recorded phone call between ponzi schemer Bernard Madoff and an associate, reveals his arrogance in attempting to rig an investigation the S.E.C. was conducting into his business, which would have uncovered his misconduct, had they done their jobs correctly.

The telephone call was subpoenaed during legal proceedings and illustrates just how confident and cocky, misguided Madoff was in wrongfully believing he would never be caught.

He is heard telling the caller the standard crooked disclaimer favored by criminals, "This conversation never took place" - before proceeding to spout off how easy it is to dupe the S.E.C.