Posted on 07/08/2008 4:52:04 AM PDT by prairiebreeze
IIRC, from Sam Waxel or whatever his name is. She found out some drug wasn’t going to be FDA approved, ordered her stock sold on this insider knowlege. She would’ve lost just a pittance considering her Omnimedia corporation was at its zenith at the time.
Waxel went to prison for longer than Stewart did.
What’s similar is the lack of integrity and illegality of mandated procedures in a highly regulated industry. My point in bringing up Stewart to the other poster was that Americans are as capable at committing fraud as this Brit was.
So she didn't trade on inside info of her own company? You mean she traded on info that an insider of another company gave her? How is that illegal?
Waxel went to prison for longer than Stewart did.
He traded on inside info, she didn't. He should have done more time than she did.
What’s similar is the lack of integrity and illegality of mandated procedures in a highly regulated industry.
What's different is lying on financial statements and loan documents is not the same thing as trading on info that an insider tells you is "inside" information.
My point in bringing up Stewart to the other poster was that Americans are as capable at committing fraud as this Brit was.
She didn't commit fraud in her trading. The Refco guys did commit fraud.
Why no, it wasn’t about her company. She called the broker, placed the instruction to sell before it was made public based on info Waxel fed to her about the FDA decision.
Why did the Justice Dept. initiate an investigation and why did she attempt to cover up what she did and subsequently lie about it if she did nothing wrong?
If Martha was not an Imclone insider, she could not have traded on inside information.
Why did the Justice Dept. initiate an investigation
Out of control prosecutor who doesn't know what insider trading is?
why did she attempt to cover up what she did and subsequently lie about it if she did nothing wrong?
She didn't know what insider trading was and stupidly lied to the FBI. She went to jail for lying about a crime she didn't commit. LOL!
I disagree, but guess we’ll just have to agree to that.
You disagree that she had no fiduciary responsibility to Imclone? What if she got bad info? What if he lied about the FDA approval? Do you still want to charge her with insider trading? LOL!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.