via zerohedge – It’s often said in financial markets that correlation does not mean causation.On some occasions, however, denying the causation seems so outlandish to be, frankly, preposterous. As a case in point, Institutional Investor (II) discovered a newly published academic work investigating the investment returns of SEC employees. It turns out those guys are surprisingly good.
According to II, employees at the Securities and Exchange Commission may benefit from divesting companies ahead of investigations, research shows.
Employees at the U.S. Securities and Exchange Commission earn investment returns similar to the insider traders they prosecute,according to new research from Columbia University and Arizona State University.
Continue reading Insider Trading Inc: Beat The Market, Work For The SEC
A whistle-blower’s account of exposing massive fraud at UBS
Sunday, April 16, 2017, 1:14 PM
Just how bad is the ongoing fraud in the banking system? Get ready for a mind-bowing expose by a former insider at UBS.
Brad Birkenfield, author of Lucifer’s Banker: The Untold Story of How I Destroyed Swiss Bank Secrecy, recounts the efforts he uncovered by his employer to help its clients cheat the US government out of tens of $billions in taxes.
But despite his working with the government closely to expose the gigantic conspiracy between US-based tax cheats and the giant Swiss bank, UBS, the so-called Justice Department went after Mr. Birkenfeld for abetting tax evasion by one of his clients. After spending thirty months in Federal prison, he was released and three weeks later, received a whistle-blower check for $104 million, the largest such check ever from the IRS Whistle-blower Office.
Continue reading UBS Bank Whistleblower- Brad Birkenfeld: Lucifer’s Banker- Worse Than Anyone Thought Possible