A second insider trading scandal linked to Morgan Stanley, the investment banking giant, has erupted in the US, reports The Times.
A husband and wife were arrested and charged yesterday after allegedly netting nearly £300,000 of illicit profits from shares they bought in a takeover target. The wife, Xujia “Jennifer” Wang, 31, was a former vice-president in the valuation review group of Morgan Stanley’s finance department. The husband, Ruopian "Rubin" Chen, was a senior hedge-fund analyst at ING's New York office. Their arrest came only hours after Randi Collota, a former Morgan Stanley rules compliance officer, and her husband pleaded guilty in a federal court in Manhattan for their role in a $15 million insider ...
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