The Decision In A Well-known Securities Fraud Case Is Upheld


The U.S. Court of Appeals upholds the conviction of writer R. Foster Winans for securities fraud. Winans, author of the “Heard on the Street” column for the Wall Street Journal, entered into a scheme with two brokers at Kidder Peabody to give them advance information about his column. The brokers, Kenneth Felis and Peter Brant, made $700,000 by trading stocks that Winans touted in the newspaper; Winans and his lover, David Carpenter, received only $31,000 in kickbacks.

Winans began writing “Heard on the Street” in 1982 and, though successful, was having difficulty leading the lavish New York City lifestyle that he desired. In October 1983, Felis and Brant persuaded him to leak the contents of upcoming columns so that they could take advantage of the price changes that typically occurred after a stock had been written about in the nation’s leading financial publication.

It wasn’t long before executives at Kidder Peabody noticed a strange coincidence between the Felis account and the stocks discussed in “Heard on the Street.” With the SEC already investigating, Winans admitted the scheme in March 1984 and was immediately fired by the Wall Street Journal. Winans, Carpenter, and Felis were indicted and convicted of securities fraud. Winans received an 18-month prison sentence.

Although the amounts of money involved were relatively small, the Winans case became a public symbol of the widespread greed, corruption, and win-at-all-costs mentality of Wall Street that prevailed in the 1980s.

Winans revealed all in his 1986 book Trading Secrets, which sold well.The New York Crime Victims Board initially disputed hisright to the profits under a law that prevents criminals from profiting from their crimes, but the law was eventually overturned. Later, Winans told people, “I like what [the conviction] has done to my life, if you can believe it.”



Posted in Crime.

39 Comments

  1. Has anyone ever vaped Yami Vapor Vaping ejuice?

    https://clevelandmagazine.com/sponsored/justcbd-march2021

  2. Has anyone ever been to Local Vape Shop Vape Store in 3950 Center Point Rd NE?

    https://mlpalmbeach.com/keep-dogs-cool-cbd-palm-beach

  3. By way of introduction, I am Mark Schaefer, and I represent Nutritional Products International. We serve both international and domestic manufacturers who are seeking to gain more distribution within the United States. Your brand recently caught my attention, so I am contacting you today to discuss the possibility of expanding your national distribution reach.We provide expertise in all areas of distribution, and our offerings include the following: Turnkey/One-stop solution, Active accounts with major U.S. distributors and retailers, Our executive team held executive positions with Walmart and Amazon, Our proven sales force has public relations, branding, and marketing all under one roof, We focus on both new and existing product lines, Warehousing and logistics. Our company has a proven history of initiating accounts and placing orders with major distribution outlets. Our history allows us to have intimate and unique relationships with key buyers across the United States, thus giving your brand a fast track to market in a professional manner. Please contact me directly so that we can discuss your brand further. Kind Regards, Mark Schaefer, marks@nutricompany.com, VP of Business Development, Nutritional Products International, 101 Plaza Real S, Ste #224, Boca Raton, FL 33432, Office: 561-544-0719

    https://lucabetasia.co/

  4. Can someone recommend G-Spot Vibrators? Thanks xox

    http://gematodiatrofi.hua.gr/wiki/index.php?title=

  5. Has anybody ever shopped at Vape Noize Ecig Shop located in 158 W Main St?

    https://www.cosmicladysix.com/1515-2/

  6. Hello everyone ! can anyone advise where I can purchase CBDistillery CBD Edible Tropical Fruit Anytime Gummies 30mg?

    http://kriminal-ohlyad.com.ua/user/cbdrealty9536/

  7. Good Morning everyone , can anyone suggest where I can buy Pineapple CBD Pod By Og Labs?

    http://www.lolassecretbeautyblog.com/2015/10/minardi-fortifying-pre-wash-therapy.html

  8. Hello, after reading this amazing piece of
    writing i am as well delighted to share my experience here with friends.

    My web-site and info [<a href="http://tinyurl.com/y8ul5r6l">tinyurl.com</a>]

  9. I was wondering if anyone knows what happened to Dime Piece LA celebrity streetwear brand? I am unable to check out on Dimepiecela site. I’ve read in Women’s Health Mag that they were acquired by a UK-based hedge fund in excess of $50 m. I have just bought the Dimepiece Dream Case Mate Tough Phone Cases from Ebay and absolutely love it xox

    https://en.vogue.me/archive/beauty-counter/beauty-sound-bites-rodin-olio-lusso-luxury-body-oil/

  10. Does anybody know whether AJS Vapor vape store located in 45636 Vandyke Ave sells vape juice made by Audiofog Max VG? I have tried sending them an email at at vapeventures@outlook.com

    https://trade-britanica.trade/wiki/The_25_Finest_Cbd_Oils_For_Dogs_With_Arthritis_Of_2020

  11. CBD Pet Treats https://www.patchadam.com/collections/cbd-edibles

    https://cbd.market/cbd-gummies

  12. CBD Devices https://www.charlottesweb.com/all-charlottes-web-hemp-cbd-supplements/cbd-gummies

    https://www.healthline.com/health/best-cbd-gummies

  13. Lfcjyy [url=https://oscialipop.com]Cialis[/url] Eptrvn Subsequent exposure leads to dermatitis hours to days after the reexposure. <a href=https://oscialipop.com>generic cialis 5mg</a> Hktvuw Is Cephalexin A Quinolone Antibiotic https://oscialipop.com – Cialis Buy Cheap Generic Cialis Uk Oenzvm

  14. Hi, I do think this is an excellent web site. I stumbledupon it 😉
    I’m going to come back yet again since i have saved as a favorite it.

    Money and freedom is the best way to change, may you be rich and continue to
    help others.

    Also visit my blog: <a href="http://tinyurl.com/yauj94mg">flight</a>

  15. For most recent news you have to go to see world-wide-web and on world-wide-web I found this web page as a most excellent website for most up-to-date updates.

    Feel free to surf to my homepage; <a href="http://tinyurl.com/y8ol5ok8">airlines tickets cheapest</a>

  16. What’s up, all the time i used to check web site posts here in the early hours in the morning, as i
    love to find out more and more.

    Also visit my blog post – <a href="http://tinyurl.com/ybf5wvgx">gamefly</a>

  17. what is the best cbd oil for weight loss and pain

    https://lovewiki.faith/wiki/Cbd_Gummies

  18. Hi my friend! I wish to say that this post is amazing, nice written and
    come with approximately all vital infos. I would like to peer extra posts like this .

    Here is my blog – <a href="http://t.co/y9IE4Cv3Sj">gamefly</a>

  19. Has anyone ever visited Pioneer Vapes? x

    https://help-sp.ru/index.php?action=profile;area=forumprofile

  20. I’d like to find out more? I’d love to find out some additional information.

    Here is my web-site :: info off – <a href="http://tinyurl.com/yyqjmetf">tinyurl.com</a>,

  21. I am extremely impressed with your writing skills as well as with the layout on your blog.
    Is this a paid theme or did you customize it info (<a href="http://tinyurl.com/yyxkc9h3">tinyurl.com</a>) yourself?
    Anyway keep up the nice quality writing, it’s rare to see a nice blog like this
    one these days.

  22. Useful information. Lucky me I discovered your site
    by accident, and I am stunned why this accident didn’t happened
    in advance! I bookmarked it.

    Also visit my website :: there info, <a href="http://tinyurl.com/yyfjuhgs">http://tinyurl.com/yyfjuhgs</a>,

  23. free slot games for fun
    [url="https://2-free-slots.com"]free vegas slots[/url]
    penny slots for free

  24. free reel slots online
    [url="https://411slotmachine.com"]jackpot slots[/url]
    online svenska casino slots

  25. free slots just for fun
    [url="https://candylandslotmachine.com"]river slots sweepstakes[/url]
    slots of vegas casino

  26. free slot games for fun
    [url="https://download-slot-machines.com"]lucky-7-bonus[/url]
    free caesars online casino slots

  27. house of fun bonus com
    [url="https://download-slot-machines.com"]459 free casino slots[/url]
    7s slots free online

  28. slots gratis
    [url="https://freeonlneslotmachine.com"]cleopatra slots penny’s[/url]
    play casino

  29. slots casino
    [url="https://giocoslotmachinegratis.com"]casino slot machines[/url]
    dgn free slots

  30. free video slots
    [url="https://pennyslotmachines.org"]myvegas slots[/url]
    slotts play free slots vegas world

  31. house of fun bonus com
    [url="https://slotmachinegambler.com"]slotomania slot machines free games[/url]
    triple diamond slots

  32. aristocats free slots
    [url="https://slotmachinegameinfo.com"]google free slots[/url]
    free online slots machines

  33. playing slots
    [url="https://slotmachineonlinegratis.org"]aol slots lounge[/url]
    casino888

  34. ceasars slot free casino
    [url="https://slotmachinescafe.com"]bonus machine slot[/url]
    doubledown casino slots

  35. lobstr fest 11 slots
    [url="https://slotmachinescasinos.com"]dragon slots[/url]
    free slots hollywood

  36. play slots online
    [url="https://slotmachinesforum.net"]777 casino[/url]
    best casino slots

  37. konami slots for computer
    [url="https://slotmachinesworld.com"]bellagio slots guide[/url]
    free casino slot games

  38. free vegas igt slots
    [url="https://www-slotmachines.com"]igt free slots online[/url]
    hawk play casino

Leave a Reply

Your email address will not be published.

Human Verification: In order to verify that you are a human and not a spam bot, please enter the answer into the following box below based on the instructions contained in the graphic.