CBS News reported Thursday that two attorneys at the Securities and Exchange Commission were under active criminal investigation by the FBI for trading stocks based on inside information.
Accusations against the two lawyers — a man and a woman whose names have not been released — are detailed in a report by the SEC inspector general obtained exclusively by CBS News.
The report, based on a review and analysis of “more than two years of e-mail and brokerage records,” puts increased pressure on a commission that has come under fire lately for failing to detect Bernard Madoff’s alleged $60 billion Ponzi scheme, and turning a blind eye to the Wall Street financial crisis.
“We ought to be outraged if there is one insider trading information that’s leading to personal profit,” Sen. Charles Grassley, R-Iowa, the ranking member of the Senate Finance Committee, told CBS News.
