3 jewish thieves arrested by christian prosecutor

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http://news.yahoo.com/s/nm/20060411/...e_insider_dc_4

NEW YORK (Reuters) - An Goldman Sachs analyst, a Merrill Lynch banker and a printing plant worker were arrested on Tuesday for allegedly participating in a $6.7 million insider trading ring that involved stolen magazines, strippers and a retired underwear factory worker in Croatia.
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Stanislav Shpigelman, a low-level investment banker at Merrill Lynch & Co. Inc. (NYSE:MER - news), was charged with tipping off Eugene Plotkin, a bond analyst at Goldman Sachs Group Inc. (NYSE:GS - news), and another member of the ring about upcoming mergers. Shpigelman and Plotkin were arrested in New York.

A third man, Juan Renteria, an employee at a plant that printed BusinessWeek magazine, was arrested in Milwaukee for allegedly giving pre-publication copies of the weekly to Plotkin and another member of the ring.

Shpigelman, Plotkin and Renteria face insider trading and securities fraud charges.

"These defendants developed their sources of information in the hopes of running that insider trading business as a money-making machine, and for a little while it worked, netting millions of dollars," said Michael Garcia, the U.S. Attorney for the Southern District of New York.

The case is linked to the arrest last year of David Pajcin, a former Goldman employee who allegedly made stock trades from stolen copies of BusinessWeek. Pajcin is cooperating with authorities, officials said.

The U.S. Securities and Exchanges Commission said the schemes were orchestrated by Plotkin and Pajcin, who persuaded Shpigelman to provide tips on upcoming mergers in return for a share of $6.7 million of trading profits .
In a second scheme, Plotkin and Pajcin recruited two individuals, including Renteria, to obtain jobs at a printing plant, steal advance copies of BusinessWeek and tip them about the names of companies discussed.

Plotkin and Pajcin also contemplated hiring strippers to gain information from bankers while dancing for them, but this plan was never executed, authorities said.

The arrests were the result of an eight-month investigation that began in early August 2005.

Plotkin, 26, faces a maximum penalty of 70 years in prison; Shpigelman, 23, could get up to 55 years; and Renteria, 20, could be jailed for 15 years.

All three will be arraigned later on Tuesday.

Separately, the SEC filed civil insider trading charges against Shpigelman, Plotkin, Renteria and a number of people who allegedly received inside tips. These included a New York exotic dancer and Pajcin's aunt Sonya Anticevic, a former underwear factory worker living in Croatia.

INTERNATIONAL SCHEME

Plotkin and Pajcin met at Goldman Sachs, and had planned to recruit other bankers for their trading ring, authorities said.

The two made at least $6.4 million from trading on news of upcoming mergers, according to the complaint.

The deals included Procter & Gamble Co.'s (NYSE:PG - news) acquisition of Gillette Co. in January 2005 and Adidas' (ADSG.DE) acquisition of Reebok in August. The Adidas deal allegedly netted them more than $2 million in profit.

In the other scheme, Plotkin and Pajcin allegedly bribed two employees of Quad/Graphics, a BusinessWeek printer, to pass along the names of stocks favorably mentioned in the magazine's "Inside Wall Street" column, on the trading day before it hit the newsstands.
Plotkin and Pajcin traded in about 20 different stocks on this basis, earning $340,000 in illicit gains, the complaint said. These stocks included TheStreet.com Inc. (Nasdaq:TSCM - news), PriceSmart Inc. (Nasdaq:PSMT - news) and Symbol Technologies Inc. (NYSE:SBL - news).

Renteria has been suspended without pay pending further investigation, a spokeswoman for Quad/Graphics said. The other employee, Nickolaus Shuster, was a temporary staffer.

Quad/Graphics has security procedures in place, and takes them seriously, but an employee intent on circumventing them can do so, the spokeswoman said.

A spokesman at Merrill said the firm is cooperating with regulators and does not tolerate insider trading. Shpigelman was placed on administrative leave today, he added.

A spokesman for Goldman Sachs said the company has fully cooperated with authorities.

A spokeswoman for McGraw-Hill (NYSE:MGP - news), which publishes BusinessWeek, did not return a call seeking comment.

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27. Criminal : A guy no different from the rest... except that he got caught with a sticker stuck on his forehead that reads jesus is my god .

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22. Opportunist : A person who starts taking bath if he accidentally falls into a river.