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June 3, 2002: Results of 9/11 Related Insider Trading Inquiries Are Still Unknown

A rare follow-up article about insider trading based on 9/11 foreknowledge confirms that numerous inquiries in the US and around the world are still ongoing. However, “all are treating these inquiries as if they were state secrets.” The author speculates: “The silence from the investigating camps could mean any of several things: Either terrorists are responsible for the puts on the airline stocks; others besides terrorists had foreknowledge; the puts were just lucky bets by credible investors; or, there is nothing whatsoever to support the insider-trading rumors.” (O'Meara 6/3/2002) Another article notes that Deutsche Bank Alex Brown, the American investment banking arm of German giant Deutsche Bank, purchased at least some of these options. Deutsche Bank Alex Brown was once headed by “Buzzy” Krongard, who quit that company in March 2001 and became Executive Director of the Central Intelligence Agency (CIA). “This fact may not be significant. And then again, it may. After all, there has traditionally been a close link between the CIA, big banks, and the brokerage business.” (Ravindran 2/11/2002)


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