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The SEC has charged Houston resident with insider trading by spying on wife's Zoom calls
Posted on 2/24/24 at 1:25 pm
Posted on 2/24/24 at 1:25 pm
quote:
The SEC has charged Houston resident with insider trading for using non-public info he obtained from his wife, a manager with BP, without her knowledge, about the company’s planned merger with TravelCenters of America.
He made $1.7 million by trading on wife’s WFH calls.
LINK
This post was edited on 2/24/24 at 1:31 pm
5
Posted on 2/24/24 at 1:32 pm to rickgrimes
Good excuse to save the wife’s arse
Posted on 2/24/24 at 1:42 pm to Upperdecker
She got fired and then filed for divorce.
Posted on 2/24/24 at 1:44 pm to rickgrimes
Was that wrong?
Posted on 2/24/24 at 2:00 pm to rickgrimes
However, members of congress can do this legally.
Posted on 2/24/24 at 2:18 pm to BHTiger
It’s criminal that congress can trade
Posted on 2/24/24 at 2:23 pm to rickgrimes
quote:
When he ultimately confessed to her, she moved out of the house and later filed for divorce. She reported his trades to BP, who then fired her despite finding no evidence that she knowingly leaked the deal, according to the SEC.
From another article, damn he grew a conscience and confessed to her, who reported it to BP, who then canned her arse
Posted on 2/24/24 at 2:25 pm to BHTiger
quote:
However, members of congress can do this legally.
Congress is subject to insider trading laws too, but I too think they need to be held in blind trusts or at least restricted to ETFs/mutual funds.
Posted on 2/24/24 at 4:16 pm to slackster
No
Posted on 2/24/24 at 11:02 pm to Bucktail1
No what? They’re subject to insider trading rules like anyone else.
Posted on 2/25/24 at 5:55 am to slackster
quote:
They’re subject to insider trading rules like anyone else.
Can you name one who has ever been charged? It might have happened at some point in history but I can't recall.
Posted on 2/25/24 at 7:00 am to slackster
quote:Nancy Pelosi’s husband just had great intuition about stocks
Congress is subject to insider trading laws too
Posted on 2/25/24 at 7:06 am to Tiger Prawn
$1.7 mil is nothing in the grand scheme of things of the stock market . Dude ran his mouth. That’s how he got caught. Unless you make like $50 mil, I really feel the only way one gets caught is because people start talking, not because of some super secret SEC computer program that digs thru trades .
Posted on 2/25/24 at 10:05 am to The Egg
quote:
From another article, damn he grew a conscience and confessed to her, who reported it to BP, who then canned her arse
once he told her, he fricked both of them
Posted on 2/25/24 at 11:34 am to The Egg
quote:
he grew a conscience and confessed to her, who reported it to BP, who then canned her arse
Is this not a microcosm of current gender relations? A woman who is more loyal to a company that gives zero shits about her than she is to her husband. What a fool.
Posted on 2/25/24 at 1:07 pm to Decisions
quote:
Is this not a microcosm of current gender relations? A woman who is more loyal to a company that gives zero shits about her than she is to her husband. What a fool.
She probably confessed for legal reasons
Posted on 2/25/24 at 1:56 pm to slackster
quote:
They’re subject to insider trading rules like anyone else.
Posted on 2/25/24 at 5:29 pm to Beessnax
quote:
Can you name one who has ever been charged? It might have happened at some point in history but I can't recall.
No I can’t recall any.
I wholeheartedly agree there seems to be hardly any enforcement of those rules, but they exist nonetheless. There is no legal exception for them.
Posted on 2/25/24 at 5:30 pm to Tiger Prawn
quote:
Nancy Pelosi’s husband just had great intuition about stocks
The Paul Pelosi trading shite is comical. Dude has been a big investor in tech stocks and those tech stocks have had a great run, but since we hate Nancy it has to be illegal. I have no desire to defend Pelosi from anything as she’s fricking awful, but her husband's trading is benign. A SF based venture capital firm making bets on Nvidia is the least shocking thing ever.
This post was edited on 2/25/24 at 5:33 pm
Posted on 2/25/24 at 7:49 pm to The Egg
quote:
he grew a conscience and confessed to her
I’m not buying it. She found out he had an account with $1.7m extra dollars and then worked him over until he confessed. Or she just went back and looked up the statements and realized where the trades came from and then confessed. Or he was excited and bragged like a dumbass.
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