FBI Unveils Insider-Trading PSA, Starring Michael Douglas

Feb 29 2012 | 4:27am ET

If 57 insider-trading convictions over the past few years isn't enough to convince you not to do it, maybe Gordon Gekko can get the job done.

The Federal Bureau of Investigation, which said this week that it is building insider-trading cases against 120 people, on Monday rolled out a public service announcement starring Michael Douglas (see video below), who played the legendary corporate raider Gekko in the 1987 classic Wall Street, earning an Academy Award for it.

Wall Street ends with Gekko facing likely insider-trading charges—in the 2010 sequel, it's revealed he spent more than a decade in prison on them. But Douglas, who said he became something of a hero among traders after the first movie, warns in the PSA, "The movie was fiction, but the problem is real. If a deal looks too good to be true, it probably is."

The one-minute announcement is currently airing on CNBC and Bloomberg Television, part of the FBI's effort to get its "brand out on Wall Street," Special Agent David Chaves said.

Chaves said Douglas, who filmed the PSA in November, couldn't understand why he was so beloved for a character who was so rotten, most famous for the line, "greed, for lack of a better word, is good."

"I'm a criminal in the movie," Chaves said Douglas told him. "Don't they realize that?"


In Depth

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...

Lifestyle

Midtown's Plaza District Fades As Manhattan Office Landscape Shifts

Nov 22 2016 | 6:32pm ET

Lower leasing costs, more efficient office space and the hope of projecting an image...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR