News and Document archive source
copyrighted material disclaimer at bottom of page
NewsMine 9-11 questions stocks-trades Viewing Item | Sec probe finds no terrorist stock trade schemes { July 23 2004 } Original Source Link: (May no longer be active) http://www.cleveland.com/news/plaindealer/index.ssf?/base/news/1090580208105680.xmlhttp://www.cleveland.com/news/plaindealer/index.ssf?/base/news/1090580208105680.xml
SEC probe finds no evidence of Sept. 11 terrorist trade schemes Friday, July 23, 2004 Associated Press
Washington- After an extensive investigation, the government has found no evidence that terrorists tried to profit from stock and options trading before the Sept. 11 attacks, the Securities and Exchange Commission said Thursday.
"In the course of that review, we did not develop any evidence suggesting that anyone who had advance knowledge of the Sept. 11 attacks traded on the basis of that information," the SEC said.
That conclusion, included in the final report issued Thursday by the Sept. 11 commission, was the government's first public statement on the findings of the trading investigation. SEC spokesmen would not say when the inquiry was completed.
The world's largest options market, the Chicago Board Options Exchange, said in September 2001 that it was investigating reports of unusual trading activity before the attacks on the World Trade Center and the Pentagon. Germany's stock market regulator said it was looking into claims of suspicious short-selling of insurance company shares just before the attacks. Investors engaged in short selling profit if a stock's price falls.
In the days before Sept. 11, unusually high numbers of put options were purchased for the stocks of AMR Corp. and UAL Corp., the parent companies of American Airlines and United Airlines. Each carrier had two planes hijacked.
© 2004 The Plain Dealer. Used with permission
|
| Files Listed: 7 |
This site contains copyrighted material the use of which has not always been
specifically authorized by the copyright owner. We are making such material
available in our efforts to advance understanding of environmental, political,
human rights, economic, democracy, scientific, and social justice issues, etc.
We believe this constitutes a 'fair use' of any such copyrighted material as
provided for in section 107 of the US Copyright Law. In accordance with
Title 17 U.S.C. Section 107, the material on this site is distributed without
profit to those who have expressed a prior interest in receiving the included
information for research and educational purposes. For more information,
go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use
copyrighted material from this site for purpose of your own that go beyond
'fair use', you must obtain permission from the copyright owner.
|