DOJ to Drop Galleon Insider-Trading Case Against Ex-Moody's Analyst

FOX Business Network (FBN) Senior Correspondent Charlie Gasparino reports that the Justice Department (DOJ) has “given up” trying to extradite former Moody’s Corporation (NYSE:MCO)’s analyst Deep Shah to face charges in the Galleon insider trading case due to India’s weak extradition treaty.

DOJ to Drop Galleon Insider-Trading Case Against Ex-Moody's Analyst

On whether Deep Shah will be extradited:

“He was both criminally and civilly charge by the SEC for this action – obviously fired from Moody’s Corporation (NYSE:MCO)’s, fled the country, went back to India…Nowhere to be found. They can’t extradite him. They’re not trying to extradite him. He is the lone fugitive in this case… Deep Shah would have probably faced something like five years in jail. It was pretty clear that what he did was violated insider trading statutes.”

On the Justice Department in regards to Deep Shah being extradited:

“They have no comment, but we do hear from sources close to the Justice Department that they have given up.”

Full video is embedded below:

LEAVE A COMMENT


X
Saved Articles
X
TextTExtLInkTextTExtLInk

The Life and Career of Charlie Munger

Charlie is more than just Warren Buffett’s friend and Berkshire Hathaway’s Vice Chairman – Buffett has actually credited him with redefining how he looks at investing. Now you can learn from Charlie firsthand via this incredible ebook and over a dozen other famous investor studies by signing up below:

  • Learn from the best and forever change your investing perspective
  • One incredible tidbit of knowledge after another in the page-turning masterpiece of a book
  • Discover the secrets to Charlie’s success and how to apply it to your investing
Never Miss A Story!
Subscribe to ValueWalk Newsletter. We respect your privacy.

Are you an intelligent investor?

ValueWalkPremium is a website and newsletter for smart investors like yourself. We focus on the latest hedge fund industry news much of which is not in the public domain and obtained via our sources.

We also have 10 years of resources on how to use this information to better your investment process.

Sign up for  today for only a few dollars a day and get a 3 day no obligation trial with a targeted 20% discount coupon code.

Cancel anytime during trial and you are never charged.

Limited time offer: For first 50 subscribers

0