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J.P. Morgan Trainee Charged with Insider Trading

It was a mixed week for stocks, in keeping with the recent trend: The


and the

S&P 500

were down, the


and the

Russell 2000

rose. Now comes a weekend break before another week of earnings preannouncements and some actual earnings reports -- but at least one Wall Streeter won't be having much fun (earnings estimates from

First Call


J.P. Morgan

analyst/trainee Roy Handojo has been charged with insider trading. The

Securities and Exchange Commission

alleges that Handojo, a 25-year-old citizen of Indonesia, traded in the securities of three companies based on confidential information he learned on the job. The companies were involved in takeovers for which J.P. Morgan was the banker. If convicted, Handojo would face up to 10 years in prison and a $1 million fine.

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