The federal government has recorded thousands of taped phone conversations that they have been using in their case against white collar defendants. However, a federal judge criticized white collar investigators for their often-sloppy wiretap management in the case against Craig Drimal, proving that this type of evidence can pose challenges in the courtroom.
Broadly defined, insider trading is trading stocks based on material, non-public information. Insider trading is both a crime and a civil offense and the Securities and Exchange Commission can elect to enforce the insider trading laws by seeking fines as well as prison time. Insider trading, like most white collar crimes, is a felony that carries the possibility of a lengthy prison sentence.
Last week, Pennsylvania state authorities announced they used surveillance and wiretaps to dismantle a large cocaine distribution network. The network was based in the Pittsburgh area, but had connections to Atlanta and Texas. Authorities believe the operation brought more than $4 million worth of cocaine into Allegheny County over the last two years.