Court--trialMan who ate evidence to hide insider trading settles with SEC

 

This is a www.wesh.com article.

 

Brooklyn mortgage broker took part part in a $5.6 million illegal stock tip scheme.

A man who ate napkins and post-it notes that contained insider trading information in an effort to destroy the evidence has settled with the Securities and Exchange Commission.

Frank Tamayo, a Brooklyn mortgage broker who took part part in a $5.6 million illegal stock tip scheme, is cooperating with authorities in their prosecution of a law firm clerk and a stockbroker.

Tamayo served as their go-between and received tips from the law clerk that he wrote down on post-it notes and napkins and then showed to the stockbroker before eating and swallowing them. The meetings took place near the famous clock at Grand Central Station in New York City.

The clerk got information about financial deals from the law firm’s computers and the stock broker used it to trade for himself, Tamayo and other clients, the SEC said.

The agency agreed not to slap a fine on Tamayo, 41, as long as he cooperated and returned $1 million and his Audi Q7. Tamayo pled guilty in the criminal case in September of last year.

 

Piggybankblog Courtroom Bailiff: “All rise! .The Honorable Judge John Wright has left the Courtroom of Public Opinion!”

.

donate small picture three

 

 

 

….

….

 

.
.
PRIVACY NOTICE: Warning – any person and/or institution and/or Agent and/or Agency of any governmental structure including but not limited to the United States Federal Government also using or monitoring/using this website or any of its associated websites, you do NOT have my permission to utilize any of my profile information nor any of the content contained herein including, but not limited to my photos, and/or the comments made about my photos or any other “picture” art posted on my profile.

You are hereby notified that you are strictly prohibited from disclosing, copying, distributing, disseminating, or taking any other action against me with regard to this profile and the contents herein. The foregoing prohibitions also apply to your employee , agent , student or any personnel under your direction or control.

The contents of this profile are private and legally privileged and confidential information, and the violation of my personal privacy is punishable by law. UCC 1-103 1-308 ALL RIGHTS RESERVED WITHOUT PREJUDICE