SEC Nabs Post-It Note Eater For Insider Trading

The Securities and Exchange Commission recently announced a settlement where insider information was passed via napkins or on post-it notes at New York's Grand Central Terminal and then the perpetrator ate the evidence.

SEC settles with Post-It Note eating inside trader

The SEC today announced it had settled with Brooklyn resident Frank Tamayo for a scheme involving three people passing secret notes to one another that contained non-public information about those involved in pending takeover battles.

Tamayo was identified as the middleman in accepting notes with a ticker symbol on them of an acquisition target. The notes were being passed by a law clerk to Tamayo, who...