“Warner Music Group Corp. chairman and chief executive officer Edgar Bronfman Jr. faces preliminary charges of insider trading as part of a probe into alleged wrongdoing at French media and telecom group Vivendi Universal SA, judicial officials said Thursday,” The Associated Press reports.
“Mr. Bronfman, the former executive vice-chairman of Vivendi, is suspected of insider trading in connection with a sale of Vivendi shares in January 2000, the officials said, speaking on condition of anonymity because the investigation is ongoing,” AP reports. “He was notified of the preliminary charges against him in mid-January, officials said.”
“Several other former Vivendi executives, including ex-chairman Jean-Marie Messier, also face preliminary charges as part of the investigation,” AP reports. “Under French law, preliminary charges mean an investigating judge has determined there is strong evidence to suggest involvement in a crime. The filing gives the magistrate time to pursue an investigation that can result in a trial or in the charges being dropped.”
Full article here.
[Thanks to MacDailyNews Reader “Shawn P.” for the heads up.]
Gee, that’s too bad.
the officials said, speaking on condition of anonymity because the investigation is ongoing,
It’s wrong to give you this information so rather than not giving it to you, just don’t tell anyone I told you.
The wicked get their due!
“His Justice Cometh, and Right Soon, Too.”
Insider trading is the only way to make money in the record business, now.
Isn’t Messier already in jail?
As a former employee of a Vivendi division, I hope so.
Unfortunately this news has nothing to do with iTunes… unless Apple offers the court transcripts as a podcast.
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Gee, who’s going to fight for artists’ and shareholders’ rights now?
Here’s hoping he ends up getting some time in Federal PMITA prison.
<Cue Nelson>
Haaahaaa!
“Gee, that’s too bad.”
*drip* *drip* *drip*
Okay, as much as I want to wish ill on that greedy, little, incompetent weasel, said charge was 8 years ago! The Statute of Limitations should have run out years ago on that crime.
It would seem he’s even more greedy than we ever thought. Even to the point of breaking the law himself! How does it feel to be accused of being a Thief?
Heh, Middlebronfman’s about to get eliminated.
Maybe they should use the RICO Act here in the United States against some of the recording industry executives to clean up the industry. Maybe they would move the industry into the 21st Century instead of acting like mafiosos from the early 20th century.
I remember the slimy git kissing Jean Marie Messier’s arse at a Vivendi sponsored event some years ago. Hope they bankrupt the spineless twit.
As much as I don’t like that jerk, how can a former CEO of a company that owns stock in it, now have some “insider information” about the company they ran? How can he ever “safely” sell his stock?