This is how the SEC spends its resources? This is considered newsworthy? $2M is considered material in 2021?
If they'd been in charge of the WW2 military, instead of Omaha Beach, we'd have a press release about one random dead Nazi.
If they'd been in charge of the WW2 military, instead of Omaha Beach, we'd have a press release about one random dead Nazi.
The guy is a class A dummkopf since he performed all this easily traceable nonsense for a miserable $3100. But it's still only $3100 hahaha. The only thing the press release is good for is for entertainment.
This case is hilarious, and for that I applaud the SEC, but it's also theater.
I think they should go after big fish of course. But there's also value in going after the littler fish. You don't want people thinking they can get away with insider trading if they just keep their crimes under the big-fish threshold. After all, there are a lot more little fish out there, and most serious criminals have a long pattern of escalation. It's valuable to keep people off the path entirely.