Thursday, December 08, 2016

Supreme opurt upholds securities fraud conviction.

"The Supreme Court unanimously upheld the insider trading conviction of a Chicago man who had traded based on inside tips from relatives. The man, Bassam Salman, argued that those who tipped him off to insider information must have gained some pecuniary benefit from the tip in order for him to be convicted of securities fraud, echoing a position recently adopted by the Second Circuit."

Insider trading is rampant on Wall Street.  Glad to the see the Court getting serious about the problem.

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