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Breaking News

URGENT: Video shows beheading of second American journalist

DUBAI (Reuters) - The Islamic State militant group released a video purporting to show the beheading of U.S. hostage Steven Sotloff, the SITE monitoring service reported on Tuesday. A masked figure in the video also issued a threat against a British hostage, a man the group named as David Haines, and warned governments to back off "this evil alliance of America against the Islamic State", the monitoring service said. (Reporting by William Maclean, Editing by Angus MacSwan)

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Top official at U.S. Attorney's Office in Manhattan to step down

By Casey Sullivan and Nate Raymond

(Reuters) - A top official in the U.S. Attorney's Office in Manhattan who oversaw a number of high-profile insider trading cases is leaving his post after two and a half years, according to a spokesman for the office.

Lorin Reisner, chief of the criminal division in the U.S. Attorney's Office in the Southern District of New York, oversaw insider trading prosecutions that led to convictions of Rajat Gupta, the former Goldman Sachs director, and Mathew Martoma and Michael Steinberg, former portfolio managers at SAC Capital Advisors.

Reisner was appointed to the position after being the deputy director of the enforcement division of the U.S. Securities and Exchange Commission. He began that role in 2009, and before that, he was a partner at law firm Debevoise & Plimpton.

A spokesman for the U.S. Attorney's Office did not make Reisner available for comment, but said he would be replaced by the office's current chief counsel, Joon Kim. Meanwhile, Daniel Stein, a partner at law firm Richards, Kibbe & Orbe will replace Kim, the spokesman said.

It is unclear where Reisner will land. A Debevoise spokesman did not immediately respond to a request for comment.

Paul Shechtman, a white collar defense attorney at New York law firm Zuckerman Spaeder, said Reisner's senior roles in the SEC and DOJ would make him a desirable hire for the country's top law firms.

"It gives him insight at the highest level into both agencies," he said.

(Editing by Eric Walsh)