61–70 of 243 posts
How does this even end up on the SEC or IRS radar? $1.4M seems like a blip in the grand scheme of things.
I don’t know about IRS but SEC enforcement actions are largely driven by complaints from regular people. Perhaps the stock broker got suspicious and acted per their ethical duties, or perhaps one of them wasn’t as tight lipped as they would have needed to be.
>he obtained from his wife, an Amazon finance employee, to place trades in Amazon stock–making a profit of $1,428,264 >Bohra engaged in illegal insider trading in advance of 11 straight earnings announcements.” >He and his family members have paid $2,652,899 in disgorgement, interest and penalties. And 26 months in prison! This is why if you're going to do any kind of trading yourself -- never touch the company you w…
There's nothing illegal about trading your employer's stock if you don't have access to insider information. Millions of investors do that with no problems.
There's a lot of companies out there. It's easy to pick one that definitely won't get you in to trouble instead of one that probably won't get you in to trouble.
Would love to see the same penalties applied to members of congress who used info from private briefings at the start of the coronavirus pandemic to make stock trades. :|
This 100%. For example, Nancy Pelosi should be named the Wolf of Wall Street. Look at that amazing trade she made on cyber security companies right before the hacks on the government were announced. Source: https://housestockwatcher.com/summary_by_rep/Hon.%20Nancy%20...
Having said that, I really think Congresspeople should be prohibited from trading in individual stocks entirely, and restricted to just investing in index funds, if for no other reason than the PR problem of congresspeople appearing to profit off of their position.
How does this even end up on the SEC or IRS radar? $1.4M seems like a blip in the grand scheme of things.
I have no doubt the SEC has a bunch of rules they use to flag suspicious transactions. The data analysis spits out a few names and they follow up in person to see who lawyers up and who cracks under pressure. It's also why Matt Levine's "rules of insider trading" includes "Don’t do it by buying short-dated out-of-the-money call options on merger targets". Certain transactions are suspicious as hell, especially when t…
How does this even end up on the SEC or IRS radar? $1.4M seems like a blip in the grand scheme of things.
I don’t know about IRS but SEC enforcement actions are largely driven by complaints from regular people. Perhaps the stock broker got suspicious and acted per their ethical duties, or perhaps one of them wasn’t as tight lipped as they would have needed to be.
>he obtained from his wife, an Amazon finance employee, to place trades in Amazon stock–making a profit of $1,428,264 >Bohra engaged in illegal insider trading in advance of 11 straight earnings announcements.” >He and his family members have paid $2,652,899 in disgorgement, interest and penalties. And 26 months in prison! This is why if you're going to do any kind of trading yourself -- never touch the company you w…
There's nothing illegal about trading your employer's stock if you don't have access to insider information. Millions of investors do that with no problems.
There should instead be restrictions on the time for an order to go through, not on the act of insider trading.
How does this even end up on the SEC or IRS radar? $1.4M seems like a blip in the grand scheme of things.
Does anyone honestly care about a million dollar trade by some employee's husband? The bar for insider trading is hilariously low - this seems like a total waste of time and resources when you could be chasing whales like you should be.
It's interesting to think about the incentives. Look at the press they're getting. It's at the top of HN and will be fodder on all major news outlets. It was probably an easy slam dunk case for the prosectors.
Earlier quoted context omitted.
Hard to guess right 11 times in a row.
But here’s the thing, Amazon is the type of company that most likely beat earnings for an entire decade. It’s not hard to guess at all. Edit: blah, nevermind: https://techcrunch.com/2019/10/24/after-its-first-earnings-m... I guess if he dodged those earnings plays, that would build a good case.
How does this even end up on the SEC or IRS radar? $1.4M seems like a blip in the grand scheme of things.
I have no doubt the SEC has a bunch of rules they use to flag suspicious transactions. The data analysis spits out a few names and they follow up in person to see who lawyers up and who cracks under pressure. It's also why Matt Levine's "rules of insider trading" includes "Don’t do it by buying short-dated out-of-the-money call options on merger targets". Certain transactions are suspicious as hell, especially when t…