Doritos bag was key to insider trading scheme
What do tortilla chips and ill-gotten stock profits have in common?
By Jeremy Selwyn
Chief Snacks Officer
While reading about a financial scandal in which stock research from UBS was leaked to some employees of Bear Stearns and Morgan Stanley, I came upon this gem:
"Participants allegedly used secret codes and disposable mobile phones to cover their tracks. Cash was transferred in a Doritos bag." (See the full story at The Sunday Times.)
Unfortunately, neither The Sunday Times nor The Wall Street Journal got the full story, as neither mentioned which flavor of Doritos was involved. That's a key detail that we need to know!