Wall Street on the lookout for Turkish trader
In this Dec. 6, 2011 file photo, SEC Chair Mary Schapiro testifies on Capitol Hill in Washington, before the Senate Banking Committee hearing on the implementation of the Wall Street reform act. AP PhotoThe United States’ Securities and Exchange Commission (SEC) has launched a probe into a Switzerland-based ring that includes a Turkish citizen, for allegedly spreading illegal tips during trading.
New York Post reported that Yomi Rodig, a Turkish trader, had been on the radar of SEC for some time. The commission has previously accused Rodig of intentionally throwing away his Blackberry in Turkey to hamper evidence that may shed light on the ring.
The ring is allegedly made up of four traders who have been providing illegal tips on American and European companies.