Insider Trading Scandal - What Happened?

On March 1, 2007, 13 people were involved in a major insider trading scandel that was uncovered. Two of the men were from UBS and Morgan Stanley. All of them of course were arrested and four of them pleaded guilty to the scandel. They gained over millions of dollars illegally as a big profit from the security industry. Insider Trading is a saying that most investors say is illegal conduct but also legal conduct as well. Legal insider trading is when officiers or coporate insiders, employess and directors buy and sell stock in their companies. Illegal is would be if a cheif excutive of a certain company learned that the same company will be taken over and bought shares in the same company knowing that the share price will rise.