Thursday, 24 September 2009

Reza Saleh: charged with insider trading!

Yeah. Reza Saleh has been charged by the SEC with insider trading.

Here's a little quote from the SEC: 'The SEC alleges that Saleh made increasingly large purchases of Perot Systems call options contracts based on material, non-public information that he learned in the course of his employment with, or duties for, two Perot-related private companies and Perot Systems. Immediately following the tender offer announcement on Monday, September 21, Saleh sold all of the call option contracts in the accounts and reaped approximately $8.6 million in illicit profits.'

The full shit can be found here.

$8.6 million in illicit profits! He sounds like a man after Jack Pickles' own heart.

BUT IS INSIDER TRADING SUCH A TERRIBLE CRIME?

I just hope the SEC and the FSA do not start investigating financial shamans any time soon. I doubt they will. The good thing about being a wacko mystic is that a lot of people (fucking squares, if you ask me) refuse to take you seriously - so you are allowed to get away with murder. And if we're talking about Jack, well …