Napoli's - 12th & Washington - the full menu

Napoli's - 12th & Washington - the full menu
The best white pizza and steak wrap sandwich in town!

Thursday, December 10, 2009

A tip is a tip


The Hudson Reporter reported earlier today on a Hoboken resident, Brian Santarias 33, an attorney is charged by the Securities and Exchange Commission with participating in an insider trading ring in an ongoing $20 million investigation.  Mr. Santarias of the international law firm Ropes & Gray LLP is reported to have worked with various individuals using confidential information involving Wall Street traders, lawyers, and hedge fund managers.
Brian Santarias is a Hoboken resident listed at 84 Adams Street, Apartment 5C.
(The Wall St. Journal stated Mr. Santarias pled guilty today - as reported in the Reporter.  The WSJ law blog says it is close but perhaps the plea is now official.  He is said prepared to forfeit about $32K.)
The SEC also provided a great deal more information today.  The criminal complaint can be found here.
U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 21332 / December 10, 2009

Securities and Exchange Commission v. Brien P. Santarlas, 09-CV-10100 (S.D.N.Y.)

SEC Charges Additional Attorney in $20 Million Insider Trading Scheme

The Securities and Exchange Commission today announced insider trading charges against Brien P. Santarlas — a former attorney at Ropes & Gray LLP — for his role in the insider trading ring that made over $20 million trading ahead of corporate acquisition announcements using inside information tipped by Santarlas and his colleague at Ropes & Gray, Arthur J. Cutillo, in exchange for cash kickbacks. The SEC alleges that Santarlas misappropriated from his law firm material, nonpublic information concerning at least two corporate acquisitions involving Ropes & Gray clients — 3Com Corp. and Axcan Pharma Inc.