From Tyler Durden
Something big is afoot: Bloomberg has just announced that The Justice Department today will announce arrests in a crackdown on investment frauds including Ponzi schemes and stock market manipulations, according to a U.S. law enforcement official familiar with the matter. It is unclear how much if any of this will be related to the recent investigation into SAC, aka expert networks. But it appears the sting will be one of the biggest in history: “The law enforcement operation, which began in August, involves more than 300 criminal defendants and 180 civil defendants, according to the official, who wasn’t authorized to speak publicly and spoke on condition of anonymity.” We will closely follow and report as we see any news.
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