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Post by meeke on Jul 21, 2006 14:23:27 GMT -4
*DJ SEC Inspector Genl Reopens Probe Into Aguirre's Firing
Will try to find the rest of the STORY.
update: WASHINGTON (Dow Jones)--The Securities and Exchange Commission's inspector general has reopened an investigation into the firing of ex-SEC enforcement attorney Gary Aguirre, his legal representatives said in a statement on Friday.
His attorney, Joanne Royce, was informed that the inspector general is re-opening a probe into "Aguirre's charges of favoritism and retaliation and is seeking to interview Aguirre," according to the statement.
(MORE TO FOLLOW) Dow Jones Newswires
July 21, 2006 14:31 ET (18:31 GMT)
Copyright (c) 2006 Dow Jones & Company, Inc.- - 02 31 PM EDT 07-21-06
JIM
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Post by meeke on Jul 21, 2006 14:45:13 GMT -4
People, This is a BIG STORY
Can't wait to see the outcome.
JIM
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Post by spaz on Jul 21, 2006 14:51:49 GMT -4
Looks like this is gonna blow wide open
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Post by meeke on Jul 21, 2006 14:53:15 GMT -4
I hope so.
JIM
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Post by jbgoodtrader on Jul 21, 2006 14:57:39 GMT -4
"The Securities and Exchange Commission's inspector general has reopened an investigation into the firing of ex-SEC enforcement attorney Gary Aguirre,"
Does anyone else think that this investigation could possibly turn out to be bias in favour of the SEC?
Or is it just me and my cynical attitude towards the Markets in general? ;D
John Good
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Post by meeke on Jul 21, 2006 16:03:10 GMT -4
UPDATE:
=DJ UPDATE:SEC Inspector Genl Reopens Probe Of Aguirre Claims
(UPDATES throughout; RECASTS first two paragraphs, adding SEC comment. ADDS statement in 6th paragraph from revised press statement from the Government Accountability Project.)
By Siobhan Hughes Of DOW JONES NEWSWIRES
WASHINGTON (Dow Jones)--The Securities and Exchange Commission's inspector general has reopened an investigation into complaints lodged by ex-SEC enforcement attorney Gary Aguirre, who has claimed he was fired for investigating a hedge fund too aggressively.
The SEC Inspector General has informed Aguirre's lawyer, Joanne Royce, that "it has reopened the investigation into Aguirre's charges of favoritism and retaliation and is seeking to interview Aguirre," according to a statement issued on Friday by The Government Accountability Project, the group that is representing Aguirre.
John Heine, an SEC spokesman, declined to comment. The SEC inspector general's office had earlier this year told Congress that it couldn't substantiate Aguirre's allegations.
Aguirre has said that he was abruptly fired by SEC Enforcement Director Linda Thomsen in September 2005 as he was investigating allegations of insider trading at Pequot Capital Management, one of the nation's largest hedge funds. He told Congress that the firing occurred after he attempted to probe a possible tip to Pequot from an investment banker with powerful political connections.
He identified the banker as Morgan Stanley (MS) Chief Executive John Mack, who headed Credit Suisse First Boston at the time of the suspicious trading in 2001. Mack was contacted by the SEC Thursday about allegations that he provided inside information to a hedge fund, Morgan Stanley said in a statement on Friday.
"The evidence pointed in this direction 13 months ago," Aguirre's representatives said on Friday. "When Aguirre suggested that a subpoena be issued for Mack's testimony, his supervisor refused, stating that Mack had powerful political connections. Over the next two months, Aguirre informed every link in the chain of command of his supervisor's decision. He had no success in obtaining their approval."
Morgan Stanley said that Mack "is happy to meet with the commission staff" and "welcomes the opportunity to put to rest any issues surrounding this matter."
In a report to Congress this spring, the SEC inspector general's office didn't mention Aguirre or Mack by name, but said it had conducted an investigation into favorable treatment of an individual because of his political connections. The details of the investigation match details provided by Aguirre.
"The evidence developed during the investigation failed to substantiate the allegations," according to the semi-annual report to Congress.
-By Siobhan Hughes, Dow Jones Newswires; 202-862-6654; siobhan.hughes@dowjones.com
(Judith Burns and Jed Horowitz contributed to this report.)
(END) Dow Jones Newswires
July 21, 2006 15:52 ET (19:52 GMT) -------------------------------------------------------------------------------- This could "BACK FIRE IN THIER FACE"
JIM
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Post by jcline on Jul 21, 2006 20:17:07 GMT -4
The Inspector General's office is the SEC's own internal police . If the SEC has committed egregious acts..... they need to expose it now. So far, we have seen very little from this office in the years of this battle. Although Dave Patch has talked to the IG himself...it was more of a listen session...where Dave did all the talking. The gloves are off. More to come.... stay tuned
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