Postal Worker Is Arrested In Trading Case
This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.
A postal worker who served on a grand jury was arrested yesterday after authorities said he provided secret developments about a probe of accounting fraud at Bristol-Myers Squibb Company to people who created a massive inside trading operation.
Jason Smith, 29, of Jersey City, N.J., was charged with insider trading for his role in what authorities called a greed-driven larger effort to make millions of dollars illegally in the securities markets through any means possible.
The specifics in the wider case were announced last month – a scheme allegedly benefiting from an analyst giving tips about pending business mergers and from illegally obtained early copies of a market-moving column in Business Week magazine.
