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Britain weighing gasoline price-fixing probe of BP, Shell, Statoil
NEW YORK, Dec. 26 (UPI) -- Convicted Ponzi scheme operator Bernard Madoff is keeping an eye on the financial markets, a recent email indicates.
In an email posted by CNBC and dated Dec. 24, Madoff, who is serving a 150-year sentence, noted insider trading "has been present in the market forever, but rarely been prosecuted."
Madoff's remarks were made in reference to the recent crackdown on insider trading that suggests the practice is new, the Los Angeles Time reported Wednesday.
"The same can be said of front-running orders," which is a form of insider trading in which brokers take advantage of their knowledge about pending shifts in the market.
For example, a broker might learn a well-known investor has executed an order for a certain trade in the future and make adjustments in his or her own portfolio because of that information.
Madoff, who ran his own firm and was once the chairman of Nasdaq, is serving a 150-year sentence for running a decades-long Ponzi scheme that lost about $17 billion.
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WASHINGTON, May 21 (UPI) --
A member of Congress who led an investigation into the BP oil spill in 2010 expressed outrage that a judge threw out a charge against a former BP executive.
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SEOUL, May 21 (UPI) --
South Korea's Doosan DST announced completion of production of an armored combat vehicle for the Indonesian Army.
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Properties repossessed by lenders in the first quarter took an average of 477 days to complete the foreclosure process, up from 414 days in the previous...
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Nobody likes spending cuts but the champion of that attitude is clearly President Barack Obama, who seems to have a very clear pain-avoidance agenda.
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