Husband of Amazon employee sentenced to prison for insider trading Amazon stock

Post by rasz » Fri, Jun 11, 2021, 12:17 PM UTC

lightgreen wrote: post #156

spoonjim wrote: post #24

Insider trade a million, you’ve got a problem. You have to insider trade a billion so that you’re untouchable. This is probably the hourly volume of insider trading at many hedge funds like SAC.

> You have to insider trade a billion so that you’re untouchable. Some source of that? I believe that is not true. Other shareholders don't really want managers to profit from insider trading.

Post by seanmcdirmid » Fri, Jun 11, 2021, 12:34 PM UTC

benrbray wrote: post #185

seanmcdirmid wrote: post #131

Earlier quoted context omitted.

Were they even American? I've heard more than a few stories of immigrants coming the states, working tech jobs, and ... getting thrown in jail for insider trading because their stock market worked very very very differently back home. It has gotten so bad that many of the big techs include mandatory training on what inside trading is and how not to do it.

I think that mandatory training is useful for everyone, not just immigrants. It's not like American high schools / colleges are teaching about finance.

Post by gpderetta » Fri, Jun 11, 2021, 12:44 PM UTC

sokoloff wrote: post #210

gpderetta wrote: post #199

Earlier quoted context omitted.

> If they use illegal monitoring devices, hacking for info etc, they may fall afoul of federal espionage, wiretapping or CFFA, but it would still not be insider trading. that would still be trading on material non public information which is prohibited.

I would hope that original/primary research would not result in insider trading charges. (If I have no other connection to a company and count cars in a retailer parking lot, foot traffic, or trucks leaving a warehouse and trade based on that information, I would expect and hope that those trades would be legal, even if the findings that I self-generated were material (and of course non-public).)

Post by shawnz » Fri, Jun 11, 2021, 1:17 PM UTC

joshribakoff wrote: post #165

sneak wrote: post #104

Earlier quoted context omitted.

It was becoming fairly obvious by February even to people outside of Congress (such as myself) that a global pandemic was likely impending. I didn't attend any secret briefings. What nonpublic information about a publicly traded company do you think they received?

Representatives of the US government sold stocks, meanwhile many Americans only received “it’s the flu”, “this will be over in a few months guaranteed”. I didn’t assert anyone received info about a company. I’m only pointing out to the parent comments author that stocks were being dumped by congress prior to there being a pandemic. I don’t know what information was given in a secret report, if I did, it wouldn’t be a…

Post by peeters » Fri, Jun 11, 2021, 2:20 PM UTC

subhro wrote: post #95

peeters wrote: post #86

Earlier quoted context omitted.

If you work for a company that grants stock via shares or options, you're going to have to sell them at some point. At which point insider trading applies.

That is true. And my philosophy is, I will sell the moment it vests (subject to sell windows of course). I will take the money and invest it elsewhere.