Insider Trading in LA Superior Court


 

The recent scandals in Washington and the passage of legislation to ban congressional “insider” stock trading caused me to unearth an old memo that I’d sent to federal authorities some time ago, because it seemed quite plausible that a Los Angeles Superior Court judge might very well have had advance knowledge of impending stock crashes.  Here’s the substance of the memo I composed:

According to Judge xxxxxx x xxxxxxz’s FPPC (Fair Political Practices Commission) Form 700 Statement of Economic Interests dated September 21, 2002 he disposed of an investment in WORLDCOM in June 2002. According to his previous filing dated December 18, 2001, the investment was worth somewhere between $10,000 – $100,000.

Somewhat more intriguing is that for the most part, his entries of investments that were sold off have the exact date of disposition listed. His Worldcom entry merely shows the month and year.

A website with extensive public documents on the Worldcom scandal listed three documents of interest that have since come to light in the month of June 2002: two internal memos dated June 17, 2002 and another on June 24,2002, in which people were discussing the firm’s shaky financial situation. The timing of the Judge’s disposition of this stock seems to raise a reasonable suspicion of insider leaks.

The Form 700’s are filed at the Los Angeles County Registrar of Voters office in Norwalk as well as with the Secretary of State and FPPC in Sacramento.

Amongst his many other investments, the Judge also made two purchases of Tyco stock on January 22, 2002 and January 23, 2002. Haven’t looked extensively at that issue yet.

Hmmmmmmmm…..

About Jan Tucker

The Detectives Diary is an innovative tool combining Private Investigation and Journalism. In 1984, Steve Harvey's Los Angeles Times "Around the Southland" Column entitled Jan Tucker's program of providing low-cost "Opposition Research" services to indigent and working class candidates for public office, "Take Cover: Hired Mudslinger Rides into Town." A 1996 Los Angeles Times article by Henry Chu carried a sub-headline identifying Tucker as a "P.R. Guru." In November 2012, Tucker became Criminal Justice Columnist for Counter Punch Magazine and a commentator for Black Talk Radio. As a private investigator since 1979 and a former First Vice President of Newspaper Guild Local 69, Tucker takes these skills to a new level in the pages of the Detectives Diary with insightful and unique exposures and analysis of history and current events. State Director--California League of Latinos And Chicanos, Former seven term Chairman of the Board of the California Association of Licensed Investigators, Co-President San Fernando Valley/Northeast Los Angeles Chapter-National Organization for Women, former National Commissioner for Civil Rights-League of United Latin American Citizens, former Second Vice President-Inglewood-South Bay Branch-National Association for the Advancement of Colored People, former founding Vice President-Armenian American Action Committee, former First Vice President, Newspaper Guild Local 69 (AFL-CIO, CLC, CWA), Board member, Alameda Corridor Jobs Coalition, Community Advisory Board member--USC-Keck School of Medicine Alzheimer's Disease Research Project
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