Feeds

World Online raided in insider trading probe

Justice department moves in

  • alert
  • submit to reddit

High performance access to file storage

The HQ of World Online was raided today over allegations of insider trading at the Dutch ISP.

The Prosecutor of the Justice Department in Amsterdam sent investigators into the Rotterdam-based offices this morning.

The company is "fully co-operating" with the investigation, according to a statement on its Website.

The allegations revolve around insider trading at the time of the company's ill-fated IPO on 17 March.

"World Online welcomes the opportunity to end the rumours and allegations which have been circulating with respect to the company after the above mentioned IPO.

"The company will provide the authorities with all the help and information it can in order to allow a full and speedy investigation to take place," it stated.

It is not known if World Online founder and ex-chairwoman Nina Brink, who made around $60 million after flogging most of her stake in the ISP prior to the flotation, is being investigated. Her house has not, apparently, been raided.

Brink quit her job in April after World Online staff and investors became peeved at the handling of the IPO. ®

Related Stories

World Online staff get Nina Brink back in their face
World Online punters vent fury at Brinkmanship
World Online flat fee is Screaming by any other name

High performance access to file storage

More from The Register

next story
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
It may be ILLEGAL to run Heartbleed health checks – IT lawyer
Do the right thing, earn up to 10 years in clink
France bans managers from contacting workers outside business hours
«Email? Mais non ... il est plus tard que six heures du soir!»
prev story

Whitepapers

Mainstay ROI - Does application security pay?
In this whitepaper learn how you and your enterprise might benefit from better software security.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Mobile application security study
Download this report to see the alarming realities regarding the sheer number of applications vulnerable to attack, as well as the most common and easily addressable vulnerability errors.