MarketWatch.com - Pre-Market Indications

Wednesday, March 19, 2008

Assent Trading Bribery

Assent Trading Bribery

The Assent Bribery Scheme

Assent LLC was a brokerage firm that maintained the Jasper Capital account through which Tavdy and Glass executed trades based on the UBS inside information. The charging documents allege that in August 2006, Samuel W. Childs Jr., and Laurence McKeever, two brokers at Assent LLC, agreed to conceal Tavdy and Glass’s trading, based on the UBS inside information from higher-level management at Assent, in exchange for payments from Glass and Tavdy. The charging documents allege that, as part of this deal, Glass agreed to pay approximately $100,000 to Childs and approximately $50,000 to McKeever, and that Glass delivered a total of $30,000 to both Childs and McKeever in $10,000 installments between August and November 2006.

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