Tuesday, May 08, 2007

Supersonic SEC

SEC accused two Hong Kong residents of insider trading. I am surprised by the quick and swift action from SEC. The alleged insider trading happened just last week. SEC already filed the lawsuit!

The lawsuit in U.S. District Court in Manhattan named as defendants Kan King Wong and Charlotte Ka On Wong Leung, a married couple. It alleged they made "highly profitable and highly suspicious" stock purchases based on inside information between April 13 and April 30.

You can read the complete story here. I hope that all law enforcement agencies act with such a speed!

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