Madoff: Insider trading is nothing new

12/25/2012 | CNBC

Bernie Madoff wrote in a letter to CNBC that recent cases of insider trading may be fresh in the news, but the practice has gone on "forever." "[O]ne would be led to believe that with the recent spate of insider trading prosecution that insider trading is a new development," Madoff writes. "This is false. It has been present in the market forever, but rarely prosecuted. The same can be said of front running of orders."

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