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I think that's not an accurate description. He avoided $117,000 in losses by trading on inside info. The gain is just sale price - purchase price. If he hadn't
by beering 7y ago
I think that's not an accurate description. He avoided $117,000 in losses by trading on inside info. The gain is just sale price - purchase price. If he hadn't traded on insider info, he would've been able to gain $500k - $117k since Equifax stock did not go below his purchase price.
So he had to pay back what he avoided losing plus $55k, plus serve time. I think the monetary fine is pretty low, but the gov't is not stupid - they made sure he came out negative.
- mikeash 7y agoI don’t know if I agree with the “not stupid” part. It may have worked out this time but there are many examples where the fine is less than the gain. Although those examples are often less about stupidity and more about not wanting to actually punish.