June 15, 1985
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.
January 30, 1985
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'.
March 21, 1985 |
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.
February 27, 1988 |
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.
March 22, 1985 |
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.
December 9, 1987 |
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.