Web Editors' Choice 2012

By Bloomberg - 2012-12-24T16:25:34Z

Photograph by Emile Wamsteker/Bloomberg

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An Insider Trading Epidemic

A man stands on the fourth floor of an airport parking garage, a letter from his son in his pocket, before jumping to his death. So begins a story on the mainstreaming of insider trading. No longer a felony reserved for Wall Street moguls looking to make millions, insider trading has expanded to the five-figure-salary set, especially in health care, with its long, confidential drug trials. In riveting detail, Bloomberg's David Voreacos tells the tale of the Fans, two promising brothers who, like many people recently accused of insider trading, traded on their knowledge of ongoing clinical drug trials. Eight days after the Bloomberg story appeared, federal prosecutors charged an ex-manager at SAC Capital Advisors LP with insider trading, alleging that he used inside tips about drug trials to net a record $276 million.

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