R Foster Winans

At the conclusion of its case, the government dropped two counts of the 61-count indictment against former Wall Street Journal reporter R. Foster Winans, his roommate, David Carpenter, and stockbroker Kenneth P. Felis. Four other counts were dropped against the co-defendants but not against Winans. The defense is expected to call its first witnesses today.

Peter N. Brant, the mastermind of an insider trading scheme that cashed in on leaks from a Wall Street Journal stock market column, was sentenced Friday to serve eight months in jail and pay a $10,000 fine. Brant, 35, a former star stockbroker, pleaded guilty in 1984 and became the key witness against R. Foster Winans, the former Wall Street Journal reporter who leaked Brant information on companies that Winans planned to write about in the "Heard on the Street" column.

The former Wall Street Journal reporter, on trial in New York for conspiracy and stock fraud, testified that he suggested that he and his roommate kill themselves rather than face a federal investigation. But David Carpenter declined, and Winans later decided "that I wanted to live," he testified. R. Foster Winans, Carpenter and stockbroker Kenneth P. Felis are on trial for allegedly trading stocks on advance information from the Journal's Heard on the Street column.

Question: So my question is, when first queried on your scheme and knowing that it was wrong, you decided to blame it on David Clark, did you not? Answer: Yes. Q: Is that a fair measure of your loyalty and friendship, Mr. Brant? A: I don't see that that has got anything to do with it. --Excerpt from the testimony of Peter N. Brant at the fraud, embezzlement and perjury trial of David W. C. Clark On the morning of Wednesday, Oct. 28, Peter N.

The judge who will issue a verdict in the trial of former Wall Street Journal writer R. Foster Winans and two others said he will review new allegations of questionable financial dealings by the prosecution's star witness. Testimony ended two months ago, but prosecutors now say they have uncovered new evidence of wrongdoing involving their star witness, former stockbroker Peter N. Brant, who pleaded guilty in the case and testified against Winans.

Peter N. Brant, the key prosecution witness in the fraud trial of former Wall Street Journal reporter R. Foster Winans, acknowledged that he and his clients had suffered paper losses of $3.5 million in the two weeks before a meeting at which Winans contends Brant first suggested a scheme to profit from trading stocks on the basis of leaks on Winans' upcoming Journal columns. But Brant stuck to his story that the idea was Winans'.

Former Wall Street Journal reporter R. Foster Winans testified Wednesday that he knew that, if his editors had found out that he was leaking information from his columns, he would have lost his job--but he didn't think he would ever get caught. Winans, 36, has admitted providing advance information about the Journal's Heard on the Street stock-market column, which he wrote, to stockbroker Peter N. Brant. He has said that he did not know that he was breaking the law.

Peter N. Brant, the mastermind of an insider trading scheme that cashed in on leaks from a Wall Street Journal stock market column, was sentenced Friday to serve eight months in jail and pay a $10,000 fine. Brant, 35, a former star stockbroker, pleaded guilty in 1984 and became the key witness against R. Foster Winans, the former Wall Street Journal reporter who leaked Brant information on companies that Winans planned to write about in the "Heard on the Street" column.

Former Wall Street Journal reporter R. Foster Winans attempted Thursday to explain some statements he made last year to the Securities and Exchange Commission in which he appeared to have admitted being persuaded by a Wall Street broker to write a column. In his testimony in U.S. District Court here, Winans denied that he had ever been induced by anyone to write one of his Heard on the Street columns. And he said he never slanted an article to move the stock of a company.

Question: So my question is, when first queried on your scheme and knowing that it was wrong, you decided to blame it on David Clark, did you not? Answer: Yes. Q: Is that a fair measure of your loyalty and friendship, Mr. Brant? A: I don't see that that has got anything to do with it. --Excerpt from the testimony of Peter N. Brant at the fraud, embezzlement and perjury trial of David W. C. Clark On the morning of Wednesday, Oct. 28, Peter N.

The Supreme Court on Monday upheld the conviction of a former Wall Street Journal reporter who schemed to profit by leaking information about his own stories, giving federal prosecutors a surprise victory in their fight against stock fraud. But, although concluding that an employee may not profit from his company's confidential information, the justices failed to make clear what constitutes illegal "insider trading" in the stock market.

With its surprise ruling on insider trading Monday, the Supreme Court gave the government's massive investigation of Wall Street a shot in the arm and bolstered congressional efforts to define insider trading. But by splitting 4 to 4 on the issue that had made the government's insider trading case against former Wall Street Journal reporter R.

The Supreme Court was urged Wednesday to uphold novel insider trading securities fraud convictions of a former Wall Street Journal reporter and two others who profited from stocks the reporter was writing about. Solicitor General Charles Fried, the Reagan Administration's top courtroom lawyer, said there would be "a cascading deterioration" of laws protecting investors if the justices sanction "profit from stolen information."

"I had whored myself, but not my writing." R. Foster Winans' proof is in this pudding: "Trading Secrets," the would-be honest memoirs of an admittedly self-deceived soul. Although Winans originally announced his book as a dissuasion from "unethical or immoral behavior" like his insider trading scam, "Trading" is no mere confessional tract but an ambitiously crafted narrative.

The judge who will issue a verdict in the trial of former Wall Street Journal writer R. Foster Winans and two others said he will review new allegations of questionable financial dealings by the prosecution's star witness. Testimony ended two months ago, but prosecutors now say they have uncovered new evidence of wrongdoing involving their star witness, former stockbroker Peter N. Brant, who pleaded guilty in the case and testified against Winans.

Three weeks of testimony came to a close after Patricia A. Maloy, Dow Jones' employee services manager, acknowledged in testimony that a personnel handbook given to Wall Street Journal employees is not fully explicit on rules governing employee behavior.

Peter N. Brant, the government's star witness in its stock-fraud case against former Wall Street Journal reporter R. Foster Winans, acknowledged Friday that he stole at least $41,000 from the account of one of his brokerage clients and manipulated stock trades in other clients' accounts. Brant's testimony came on his first day of cross-examination by an attorney for Kenneth P. Felis, a co-defendant with Winans.

The Supreme Court was urged Wednesday to uphold novel insider trading securities fraud convictions of a former Wall Street Journal reporter and two others who profited from stocks the reporter was writing about. Solicitor General Charles Fried, the Reagan Administration's top courtroom lawyer, said there would be "a cascading deterioration" of laws protecting investors if the justices sanction "profit from stolen information."

The former Wall Street Journal reporter, on trial in New York for conspiracy and stock fraud, testified that he suggested that he and his roommate kill themselves rather than face a federal investigation. But David Carpenter declined, and Winans later decided "that I wanted to live," he testified. R. Foster Winans, Carpenter and stockbroker Kenneth P. Felis are on trial for allegedly trading stocks on advance information from the Journal's Heard on the Street column.

Former Wall Street Journal reporter R. Foster Winans attempted Thursday to explain some statements he made last year to the Securities and Exchange Commission in which he appeared to have admitted being persuaded by a Wall Street broker to write a column. In his testimony in U.S. District Court here, Winans denied that he had ever been induced by anyone to write one of his Heard on the Street columns. And he said he never slanted an article to move the stock of a company.