Insider Trading Scandal - What Happened?

The insider trading scandle was uncovered on thursday. A group of current and former employees of U.S. top banks were charged for insider trading since the 1980s and accused of using leaked information and even blackmail to make millions of dollars. The case involves over a dozen people and four major Wall Street investment banks. Over 15 million U.S dollars were made as profit over a 4-year period. About 8 million dollars were found from the accused. Insider tips, kickbacks, blackmail, disposable cell phones, secret codes and clandestine meetings were all part of the plot. In all, 13 people have been arrested in the criminal case. The SEC brought civil charges against 11 individuals and three entities. Many were pleaded guilty. This is one of the biggest wall street scandals since the 1980's.