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Two ex-brokers charged with insider trading over 2009 IBM deal

Nov 30 2012 Jonathan Stempel, Reuters

Two former stock brokers at a Connecticut financial services company were charged with criminal insider trading on Thursday over a 2009 acquisition by computer giant IBM Corp. U.S. authorities said Thomas Conradt, David Weishaus and three unnamed colleagues made more than $1 million in illicit gains by trading in shares of SPSS Inc before IBM agreed on July 28, 2009, to buy the Chicago-based software company for $1.2 billion. The criminal indictment details a trail of instant messages involving the men about their activity, some of which refer to other insider-trading cases involving homemaking doyenne Martha Stewart and the billionaire Mark Cuban. Prosecutors said the scheme got its start with a tip from an associate at the New York law firm that represented IBM in the transaction. Prosecutors did not name the law firm, but Cravath Swaine & Moore has said it was IBM's representative. "Thomas Conradt, David Weishaus and their co-conspirators engaged in a

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