... and nothing will happen.
this post was submitted on 05 Jun 2024
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Didn't Martha Stewart go to prison for this exact thing?
No. She went to jail for lying to the feds.
Her financial manager was suspected of insider trading. The FBI questioned her about it and she lied to them in an attempt to protect him.
Did her financial manager insider trade?
Probably. She was not found guilty of lying about her reason for selling the stock in question, though she was found guilty of obstruction and other lies, along with conspiracy.
She was never charged with insider trading, so if she hadn't lied, she would likely have been fine.
Interestingly, they also charged her with securities fraud. They argued that, as the face of a publicly traded company, covering up a crime was market manipulation even if it had nothing to do with that company. The judge dismissed that charge.
Damn, I hope Elmo lies to the feds. He's dumb enough to.
That's called Insider Trading, and is supposed to be illegal.
America
its only illegal if youre dumb enough to not be paying judges and politicians. its not even a lot of money either like a couple thousand and theyll vouch for you
Used to be you pull this shit (insider trading) and be locked away for life. Times they 'r a changing, indeed.
I don't know about life. Martha Stewart got 5 months (and some house arrest and probation after that).
Martha Stewart was convicted for lying and obstruction, not insider trading.
Lonnie wouldn't break investing rules. I trust him. He's a super genius and will save us all. Now let me go post racist bullshit on his everything app so people will think I'm cool.
He's a shithead. There will never be meaningful consequences. I hope he takes a rocket into space and never comes back.
I hope it does come back.
In a beautifully catastrophic arial display, of him and the others trying to escape, burning brilliantly on rentry.
"Nobody gets out alive - especially the billionaires" ~Jimbert Morrenstein
No, living on Mars will be terrible. I want him to get what he wants and be slowly poisoned while eating algae surrounded by people he hates in a small tin can buried in the ground.
To be fair, that is clearly his goal.
So wait, is it OK to do INSIDER TRAIDING now?
Well not for me and you. I have worked for public traded companies before and they would announce blackout periods where we weren't able to sell. Since we worked inside the company and knew stuff the general public wouldn't.
Part of the many reasons why I won't do another 401k and instead use a Roth.
What does a Roth vs 401k have to do with any of this? I buy index funds in both accounts, nothing to do with company stock programs whatsoever.
Well you have to account all the stress the poor people in power have to contend with each day. A little bonus at the end of the line is not that big of a deal. /s
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