Mark Kurland Gets Two Years In Prison For Insider Trading

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Subject:	FWC: Mark Kurland… Sentenced To Two Years In Prison Over Insider Trading
Date:	Tue, 14 Jun 2011 05:27:58 -0700
From:	Jas Jain

Mark Kurland… Sentenced To Two Years In Prison Over Insider Trading

"…a judge who blamed the attitudes of people like Kurland on the country's financial collapse two years ago.

"He had a choice as a leader of the financial industry. He could have led by example. Instead, he chose to follow. He became a joiner, surrendering to the spree of the financial market's virtual mob mentality that nearly brought down this country's financial industry in the quest for ever bigger and faster gains," Marrero said."

"People like Kurland" were bred in a culture of deception, fraud and manipulation centered in New York City. They are also sexual predators because they use their money and power to induce women who work for them to have "toxic sexual relationships" as was claimed by an employee of Mr. Kurland, Danielle Chiesi, who was also indicted for insider trading. She claims that she was used and manipulated into passing insider information. Kurland would get to keep most of his wealth as was convited felon Michael Milken. What a system!

People bred in the culture of deception, fraud and manipulation have leg up to become "leader of the financial industry." Fraud in financial industry is by design—to attract people who are experts at deception and manipulation and are more willing to commit fraud. Once they make lot of money via fraud they buy the lawmakers and most of the improper activities are made legal, or not explicitly illegal.

 

Forget the "Lost Decade," Get Ready For the "Lost Century"

Because criminal-minded people have taken over the financial system, the economic policy making, and enforcement of financial markets. One has to be blind to the reality of the American system to be optimistic about America's future. It is all over when proven Crooks take over the govt. System of the Crooks has been installed to rule over the American People. OK, OK, go ahead and sing freedom, freedom... Freedom, my ass. White Americans were lot freer under the British! Those who claim otherwise are ignorant of the facts.

Jas

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Mark Kurland, Former Top Executive, Sentenced To Two Years In Prison Over Insider Trading

LARRY NEUMEISTER | 05/21/10 05:58 PM

 

NEW YORK — A former top executive at a $1 billion hedge fund investment firm was sentenced to more than two years in prison Friday in the first sentencing to result from what prosecutors have called the largest hedge fund insider trading case in history.
Mark Kurland, 61, of Mount Kisco, N.Y., was sentenced Friday to two years and three months in prison and ordered to forfeit the $900,000 he made through illegal trades by a judge who blamed the attitudes of people like Kurland on the country's financial collapse two years ago.
U.S. District Judge Victor Marrero said Kurland, a co-founder of New Castle Partners hedge fund in Manhattan, "frankly should have known better" than to join an inside trading scheme that led to the arrests of top executives including one-time billionaire Raj Rajaratnam.
"He had a choice as a leader of the financial industry. He could have led by example. Instead, he chose to follow. He became a joiner, surrendering to the spree of the financial market's virtual mob mentality that nearly brought down this country's financial industry in the quest for ever bigger and faster gains," Marrero said.
Kurland, who had pleaded guilty to conspiracy to commit securities fraud and securities fraud, was among 11 people who have pleaded guilty in the case. Many of the others had agreed to cooperate with the government, a step which delays their sentencing.
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Kirk Here:  We need to go after market manipulators with a vengeance. 

QE1 and QE2 are ways to transfer wealth from savers ("rich people") to borrowers. The US government is the largest borrower so it is a hidden tax on the "rich" retired school teachers and others who saved for a retirement and used interest on their CDs and US Ts to live a comfortable life.

The banks need to be healthy for an economy to work. GE and McDonalds need credit to build turbines and pay burger flippers.

I don't mind banks getting healthy with money they lend out at subsidized rates but I object when they steal wealth from stock investors with program trading to scalp pennies. I'd be all in favor of a TINY transaction tax just enough to make program trading far less profitable but not enough to dent what "real investors" who buy stocks as investments see for returns. That means make the transaction tax less than 0.1% and use the funds to shore up the SEC and look for and prosecute ANY traders that manipulate the markets. Make the markets FAIR again for the small investor and they will return and we'll get a wealth effect larger than QE1 and QE2 combined (opinion, of course!)