Finance Latest News: Appeals Court Won't Reverse Three Insider Trading Cases

Wochit 1:31 mins

Three former Wall Street traders who were charged in a broad crackdown on insider trading by the U.S. government lost their bids to reverse their convictions and sentences.. The 2nd U.S. Circuit Court of Appeals in New York upheld the 2011 convictions and sentences of traders including Zvi Goffer, once dubbed "Octopussy" after the James Bond film thanks to his various sources of information. The ruling allows to stand the 10-year sentence handed to Goffer, 36, a former trader at Schottenfeld Group. Goffer's sentence was the third-longest U.S sentence for insider trading. Groupon officially started to reimagine its Groupon Reserve business, stocking it with reservation offerings at above-average restaurants across 10 markets, In exchange for booking tables at off-peak times, diners get a discount off their bill. Up until now, the Groupon Reserve booking system was being powered by - and stocked with restaurants who have partnered with - "Savored", the discount restaurant reservation startup that Groupon bought last year. Sources have revealed that Billionaire investor Carl Icahn and Jefferies & Co have lined up $5.2 billion in loan commitments backing Icahn's leveraged recapitalization plans for computer manufacturer Dell Inc. Icahn did not return immediate calls for comment.

View Comments