Actor Michael Douglas teams up with NY FBI

Gordon Gekko, the character played by actor Michael Douglas in the "Wall Street" movies, is the New York FBI office´s newest weapon in its arsenal to combat insider trading, Bloomberg News reports.

In a first for the Federal Bureau of Investigation, Douglas, reprising his role in the 1987 and 2010 films, will urge fund managers and Wall Street analysts in a public service announcement to avoid taking the same route to the federal penitentiary as his character did, FBI Special Agent David Chaves said.

"He's talking about himself as Gordon Gekko and the role that he played and how that was fiction and this is not," said Chaves, a supervisor of one of the FBI's securities and commodities fraud units in New York. Some television stations have agreed to broadcast the spot, he said.

Chaves and his fellow agents in New York are behind the insider-trading initiative called "Perfect Hedge," in which they teamed up with the Manhattan U.S. attorney´s office and the U.S. Securities and Exchange Commission to investigate the sources of inside tips and those profiting from them.