{"id":1175,"date":"2012-12-28T14:04:07","date_gmt":"2012-12-28T14:04:07","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2012\/12\/stockbroker_fraud_headlines_we"},"modified":"2022-09-19T09:54:16","modified_gmt":"2022-09-19T14:54:16","slug":"stockbroker-fraud-headlines-we","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/stockbroker-fraud-headlines-we\/","title":{"rendered":"Stockbroker Fraud Headlines: Wells Fargo Banker Charged Over $11M Insider Trading, Morgan Stanley to Resolve Facebook IPO Action for $5M, &#038; SEC Accuses Canadian Broker of Inadequate Day Trader Supervision"},"content":{"rendered":"<p>\t\t\t\t<strong>Wells Fargo Banker and 8 Others Accused of Alleged $8M Insider Trading Scam<\/strong><\/p>\n<p>The U.S. Attorney for the Western District of North Carolina is charging Wells Fargo  (WFC) investment banker John Femenia and eight alleged co-conspirators with involvement in an alleged $11 million insider trading scam. Femenia is accused of stealing confidential data from his employer and its clients about acquisitions and mergers that were pending. He then either directly or via others tipped his co-conspirators, receiving kickbacks in return.<\/p>\n<p>According to the N.C. government, the insider trading scam resulted in $11M in profits. While six of the co-conspirators opted to plead guilty to conspiracy to commit insider trading, Femenia and the other two have been indicted on multiple charges of conspiracy and insider trading. The same defendants, and another person, are also named in the SEC lawsuit over the scheme.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/stockbroker-fraud-headlines-we\/\"  title=\"Continue Reading Stockbroker Fraud Headlines: Wells Fargo Banker Charged Over $11M Insider Trading, Morgan Stanley to Resolve Facebook IPO Action for $5M, &#038; SEC Accuses Canadian Broker of Inadequate Day Trader Supervision\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Wells Fargo Banker and 8 Others Accused of Alleged $8M Insider Trading Scam The U.S. Attorney for the Western District of North Carolina is charging Wells Fargo (WFC) investment banker John Femenia and eight alleged co-conspirators with involvement in an alleged $11 million insider trading scam. Femenia is accused of stealing confidential data from his [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3752,3777,3811,3787,3836],"tags":[],"class_list":["post-1175","post","type-post","status-publish","format-standard","hentry","category-financial-firms","category-inadequate-supervision","category-insider-trading","category-morgan-stanley","category-wells-fargo"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Stockbroker Fraud Headlines: Wells Fargo Banker Charged Over $11M Insider Trading, Morgan Stanley to Resolve Facebook IPO Action for $5M, &amp; SEC Accuses Canadian Broker of Inadequate Day Trader Supervision &#8212; Investor Lawyers Blog &#8212; December 28, 2012<\/title>\n<meta name=\"description\" content=\"Wells Fargo Banker and 8 Others Accused of Alleged $8M Insider Trading Scam The U.S. Attorney for the Western District of North Carolina is charging Wells &#8212; December 28, 2012\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/stockbroker-fraud-headlines-we\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Stockbroker Fraud Headlines: Wells Fargo Banker Charged Over $11M Insider Trading, Morgan Stanley to Resolve Facebook IPO Action for $5M, &amp; SEC Accuses Canadian Broker of Inadequate Day Trader Supervision &#8212; Investor Lawyers Blog &#8212; December 28, 2012\" \/>\n<meta name=\"twitter:description\" content=\"Wells Fargo Banker and 8 Others Accused of Alleged $8M Insider Trading Scam The U.S. Attorney for the Western District of North Carolina is charging Wells &#8212; December 28, 2012\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Stockbroker Fraud Headlines: Wells Fargo Banker Charged Over $11M Insider Trading, Morgan Stanley to Resolve Facebook IPO Action for $5M, & SEC Accuses Canadian Broker of Inadequate Day Trader Supervision &#8212; 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December 28, 2012","twitter_misc":{"Written by":"Shepherd Smith Edwards &amp; Kantas, LLP","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/stockbroker-fraud-headlines-we\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/stockbroker-fraud-headlines-we\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"Stockbroker Fraud Headlines: Wells Fargo Banker Charged Over $11M Insider Trading, Morgan Stanley to Resolve Facebook IPO Action for $5M, &#038; SEC Accuses Canadian Broker of Inadequate Day Trader Supervision","datePublished":"2012-12-28T14:04:07+00:00","dateModified":"2022-09-19T14:54:16+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/stockbroker-fraud-headlines-we\/"},"wordCount":616,"articleSection":["Financial Firms","Inadequate Supervision","Insider Trading","Morgan Stanley","Wells Fargo"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/stockbroker-fraud-headlines-we\/","url":"https:\/\/www.investorlawyers.com\/blog\/stockbroker-fraud-headlines-we\/","name":"Stockbroker Fraud Headlines: Wells Fargo Banker Charged Over $11M Insider Trading, Morgan Stanley to Resolve Facebook IPO Action for $5M, & SEC Accuses Canadian Broker of Inadequate Day Trader Supervision &#8212; 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