Bloomberg have the story of an SEC investigation into insider trading which serves as a guide to how not to insider trade.
Among the pro-tips:
- Don’t use your New York metrocard when taking the train to visit co-conspirators
- Don’t put the names and dates of meetings with co-conspirators in your diary
- Don’t buy insanely out-of-the-money calls in absurd volumes that are suddenly in the money when the takeover offer is revealed
- Don’t invest your ill-gotten gains in places where authorities can easily confiscate it
Insider Trading Buddies Nailed by … Metrocards?
Enjoy!
