The US Department of Justice and the FBI have been investigating insider trading schemes for five years now, and today the investigation led to criminal charges against seven suspects. Four have been taken into custody.
The charges and the arrests continue the record of recent arrests in New York where employees of different firms are allegedly sharing information in an effort to maximize profits.
Bloomberg News reports that today’s charges stem from trades involving shares in Nvidia Corp. (NASDAQ: NVDA) and Dell Inc. (NASDAQ: DELL).
The five-year investigation has led to the arrests of about 56 people, of which 50 have been convicted or pled guilty since 2009.