Today, the SEC announced insider trading charges against two individuals, one a current employee and the other a former employee of Goldman Sachs. The government's complaint charges the individuals, Eugene Plotkin and David Pajcin, with persuading a Merrill Lynch analyst to provide tips on upcoming mergers in return for a share of the trading profits. The complaint also refers to another alleged scheme in which Plotkin and Pajcin recruited two individuals to obtain jobs at a printing plant in Wisconsin, steal advance copies of BusinessWeek magazine, and tip Plotkin and Pajcin on the names of companies discussed favorably in a column before the magazine became public. Plotkin and Pajcin allegedly traded on the inside information.
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