U.S. CitiesCity-Data Forum Index
Covid-19 Information Page
Go Back   City-Data Forum > General Forums > Economics > Investing
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

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

Advertisements

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
Rate this post positively Reply With Quote Quick reply to this message

Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics > Investing
Similar Threads

All times are GMT -6.

© 2005-2021, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top