FBI Arrests More On Insider Trading Case (GS, DELL, TSM)

The FBI arrested four more today in the insider-trading case, as part of its larger imitative to crack down on this. Daniel Devore, formerly a global supply manager for Dell Inc. DELL last week plead guilty to committing wire fraud and conspiracy to commit wire fraud and securities fraud, the FBI said. The people that were arrested today were James Fleishman, an executive for an "expert networking" research firm, Mark Anthony Longoria, who worked as a a supply chain manager for Advanced Micro Devices AMD, Walter Shimoon, a former a senior director of business development at Flextronics International FLEX and Manosha Karunatilaka, a former account manager at Taiwan Semiconductor TSM. Dell said that it will cooperate with authorities in this case, as it is committed to highest ethical standards. Investment banks such as Goldman Sachs GS could potentially be next in the insider trading case, which looks like it will potentially go on for an extended period of time.