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Nina Devlin discovered that her husband had received gifts, including a Cartier watch and Porsche driving lessons, in return for allegedly giving inside information to business associates and friends.
The complaint by the US Securities and Exchange Commission (SEC) claims: "At the time that Devlin tipped the other defendants about these companies, each company was confidentially engaged in a significant transaction that involved a merger, tender offer or stock repurchase."
According to the Times, four traders allegedly involved in the ring have all been arrested by the Federal Bureau of Investigation.
The SEC is the body responsible for protecting investors and maintaining fair, orderly markets in the US.
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