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Old 09-02-2010, 09:43 PM
Location: Los Angeles
14,372 posts, read 8,722,838 times
Reputation: 6649


TampaBay.com - Wake up and good morning. Here's a classic case of insider trading right in our own backyard that netted one local trader nearly $14 million. If only his own subsequent trades had not blown all the money he made. And, oh yeah, if only the finally-more-energetic Securities and Exchange Commission had not discovered him and fined him $600,000.

Goldfield’s settlement with the SEC called for him to pay $16.65 million, reflecting the profit he made plus interest. But he will only pay only $600,000 -- for the record that's $16,050,000 less than he once made on insider trading -- because he lost all the illegal profit while trading index put options. Oh yes, the SEC notes Goldfield did not admit wrongdoing. As for Self, he walked away with a $50,000 fine.

This case should have gone to a jury regardless of admission.
Crime seems to pay just fine (literally). Nice 1 SEC
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