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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,
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To: StockDung who wrote (90006)1/25/2005 11:53:11 PM
From: rrufff  Read Replies (1) of 122087
 
As you probably know, some stuff in the FBI data base is excluded from FOIA. It's unclear from reading the summaries whether this is an issue or not. For example, a record of conviction is obatinable but the fact of an investigation is not by anyone other than the person being investigated. (I haven't looked at the exemptions in a while and that's from memory and I could be off on it.)

However, IMO, I don't think it would matter. I believe that getting information ahead of others even if it is available elsewhere and then trading on the information could constitute manipulative behavior. In essence, it would give someone an unfair headstart.

I haven't read in detail the entire complaint but the summaries suggest that information was for FBI eyes only, either by regulation or practice. A common sense analysis would lead one to believe that an agent couldn't and shouldn't selectively leak that information and that a trader would be using inside information, i.e., information not generally available, even if the substance where available elsewhere.

Anyway, it does make for some interesting arguments and I'm sure they were raised and will be raised on appeal.

That's why my focus has been on the extortion charge. That's the simple one, the one that would have most meaning to a lay jury. It doesn't really involve nuance. Most of know when someone is trying to extort, even if it involves a complicated stock scheme.

Take care.
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