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Former Morgan Stanley advisor pleads guilty

Morgan Stanley HQ

A former Morgan Stanley financial advisor pleaded guilty to an insider trading charge for tipping a childhood friend to Gilead Sciences plan in 2011 to buy Pharmasset Inc, three days before the $11.2bn takeover was announced, court and regulatory records show.

Citigroup in fraud claim

Man And Screen In The Dark

A Texas man accused of defrauding a bank of $42.4m fraud while trading ethanol futures contracts in 2010-2011 worked for Citigroup at the time, a Citi spokesman said on Monday.