---
product_id: 5099909
title: "Circle of Friends: The Massive Federal Crackdown on Insider Trading---and Why the Markets Always Work Against the Little Guy"
brand: "charles gasparino"
price: "R791"
currency: ZAR
in_stock: true
reviews_count: 9
url: https://www.desertcart.co.za/products/5099909-circle-of-friends-the-massive-federal-crackdown-on-insider-trading
store_origin: ZA
region: South Africa
---

# Circle of Friends: The Massive Federal Crackdown on Insider Trading---and Why the Markets Always Work Against the Little Guy

**Brand:** charles gasparino
**Price:** R791
**Availability:** ✅ In Stock

## Quick Answers

- **What is this?** Circle of Friends: The Massive Federal Crackdown on Insider Trading---and Why the Markets Always Work Against the Little Guy by charles gasparino
- **How much does it cost?** R791 with free shipping
- **Is it available?** Yes, in stock and ready to ship
- **Where can I buy it?** [www.desertcart.co.za](https://www.desertcart.co.za/products/5099909-circle-of-friends-the-massive-federal-crackdown-on-insider-trading)

## Best For

- charles gasparino enthusiasts

## Why This Product

- Trusted charles gasparino brand quality
- Free international shipping included
- Worldwide delivery with tracking
- 15-day hassle-free returns

## Description

Full description not available

## Images

![Circle of Friends: The Massive Federal Crackdown on Insider Trading---and Why the Markets Always Work Against the Little Guy - Image 1](https://m.media-amazon.com/images/I/51dCHx6EusL.jpg)

## Customer Reviews

### ⭐⭐⭐⭐⭐ 5.0 out of 5 stars







  
  
    Excellent!
  

*by J***S on Reviewed in the United States on October 16, 2024*

This is a very good book. Extremely well written, very informative, and yet relatively easy to follow the story. Great job!

### ⭐⭐⭐⭐ 4.0 out of 5 stars







  
  
    Cheating Their Way to Fortune & Fame
  

*by C***E on Reviewed in the United States on May 16, 2015*

A well-written account of how cheating made it so easy for some Wall Streeters make a killing.....all at the expense of small investors. Unlike some accounts of Wall Street intrigue when an understanding of the structures of various instruments is essential, the author focuses on the people....because how they profited on inside information is incidental to the gist of the story ....how they obtained and passed along inside information.  If you like to read about scoundrels...this book is for you.

### ⭐⭐⭐⭐⭐ 5.0 out of 5 stars







  
  
    Highly Recommended
  

*by C***D on Reviewed in the United States on July 7, 2013*

Gasparino has written a thorough, comprehensive review of the federal government’s efforts to deal with insider trading – the use of ill begotten non-public information to buy or sell securities which, when the information becomes publicly available, will rise or decline in price. He notes that while prostitution is considered the oldest profession, insider trading has to be at the top of the list of the world’s oldest economic crime.In the aftermath of the Great Depression, during which insider trading was very prevalent and regarded as a fact of life, President Franklin Roosevelt chose as the person to clean things up, someone who had profited handsomely from securities speculation. Joseph P. Kennedy, the father of President John Kennedy. Kennedy was chosen to be the head of the newly created Securities Exchange Commission that administered the Securities Act of 1933 and the Securities Exchange Act of 1934. Section 10(b) of the 1934 Act made it unlawful to use or employ, in connection with the purchase or sale of a security, “any manipulative or deceptive device or contrivance in contravention of” rules and regulations of the SEC. The principal such rule was Rule 10(b)(5).But it was several years before the Rule was widely used and its parameters defined by the Supreme Court. Although the SEC can only initiate civil actions, federal law enforcement officials, such as U.S. Attorney Rudy Giuliani, used criminal statutes to go after high profile investors who used misappropriated inside information.Gasparino goes into considerable detail about criminal insider trading cases in the last fifteen years. Much of his reporting follows the work of two teams of FBI agents who tried to induce suspects to become informants. Their work was made easier when the courts authorized wiretaps of phone conversations.Gasparino’s reporting indicates that insider trading was much more prevalent than I had thought. Thanks to Cameron Funkhouser of the Financial Industry Regulatory Authority, computer tracking systems can flag instances of unusual trading and can “find nearly any questionable stock sale no matter how seemingly insignificant.”The book traces the work done by authorities to convict Raj Rajaratnam, the head of the Galleon Group, and Rajat Gupta, the former head of McKinsey. Gasparino covers some of the same ground, but from somewhat different perspective, as Anita Rachavan in her excellent book The Billionaire’s Apprentice. Rachavan focused on the rise and fall of Rajaratnam and Gupta, as Indian-Americans, and the work of Indian-Americans Sanjay Wadwa, assistant regional director of the SEC’s New York office, and Preetinder Bharara, the US attorney for the Southern District of New York who worked to convict Rajaratnam and Gupta. Gasparino is somewhat less complimentary of Bharara.Several pages of Circle of Friends describe efforts by the federal government to convict Steve Cohen of SAC Capital, a hugely successful hedge fund. A number of former employees of SAC have been found guilty of insider trading but the government has been unsuccessful in obtaining information sufficient to convict Cohen.  According to Gasparino, “nearly 100 SAC trades [were] flagged by FINRA as suspicious.” The government was hopeful that a former SAC employee who obtained advance information about a medical report and has been charged with insider trading would enter into a plea agreement and reveal the substance of a phone conversation with Cohen shortly before the allegedly illegal trading began but the employee has refused. The statute of limitations for this trading episode will shortly expire and within recent days news reports say Cohen will not be charged.Gasparino is clearly frustrated that the government has devoted so much time and money to combat insider trading but has not successfully prosecuted any the of people who were responsible for the financial collapse in 2008 that required a massive bailout.

---

## Why Shop on Desertcart?

- 🛒 **Trusted by 1.3+ Million Shoppers** — Serving international shoppers since 2016
- 🌍 **Shop Globally** — Access 737+ million products across 21 categories
- 💰 **No Hidden Fees** — All customs, duties, and taxes included in the price
- 🔄 **15-Day Free Returns** — Hassle-free returns (30 days for PRO members)
- 🔒 **Secure Payments** — Trusted payment options with buyer protection
- ⭐ **TrustPilot Rated 4.5/5** — Based on 8,000+ happy customer reviews

**Shop now:** [https://www.desertcart.co.za/products/5099909-circle-of-friends-the-massive-federal-crackdown-on-insider-trading](https://www.desertcart.co.za/products/5099909-circle-of-friends-the-massive-federal-crackdown-on-insider-trading)

---

*Product available on Desertcart South Africa*
*Store origin: ZA*
*Last updated: 2026-02-14*