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Stories like this boggle my mind. How do such people think that they are going to get away with this? If I were going to try something like this I would at leas

Stories like this boggle my mind. How do such people think that they are going to get away with this? If I were going to try something like this I would at least make some attempt to obfuscate my activities; trading through proxies, mixing in losing trades, something.

JumpCrisscross 5y ago
> How do such people think that they are going to get away with this? Many Americans think insider trading is l common than. If everyone is getting away with 70 mph, you can too. (Exhibit A: this thread.) In reality, insider trading enforcement is effective. The SEC looks for unusually profitable trades ex post facto. Their verification is easier than the insider trading. Wall Street doesn’t insider trade because it’s stupid and there are lower-hanging fruit.
- seanmcdirmid 5y ago
  Were they even American? I've heard more than a few stories of immigrants coming the states, working tech jobs, and ... getting thrown in jail for insider trading because their stock market worked very very very differently back home. It has gotten so bad that many of the big techs include mandatory training on what inside trading is and how not to do it.
  - benrbray 5y ago
    I think that mandatory training is useful for everyone, not just immigrants. It's not like American high schools / colleges are teaching about finance.
    - seanmcdirmid 5y ago
      Sure, but with the right context those videos feel very cringey (who would ever do that???).
- tarsinge 5y ago
  Hard to believe when I see https://en.m.wikipedia.org/wiki/2020_congressional_insider_trading_scandal https://en.m.wikipedia.org/wiki/2020_congressional_insider_t...
- BelenusMordred 5y ago
  > In reality, insider trading enforcement is effective. This is impossible to know just like many other crimes.
- sumedh 5y ago
  > Wall Street doesn’t insider trade because it’s stupid and there are lower-hanging fruit. They do, its just that the CEO does not go to to jail https://en.wikipedia.org/wiki/Steve_Cohen_(businessman)#SEC_investigation_(2012%E2%80%932016) https://en.wikipedia.org/wiki/Steve_Cohen_(businessman)#SEC_...
ta3463737 5y ago
If you're in a position to know that kind of information, especially for a behemoth like Amazon, the banks they deal with are going to keep a close eye on you, and your close family (and they've seen most tricks in the book I'd guess). Just foolish and overconfident, although the fact the dad was mentioned probably means they roped him into doing the deeds thinking it'd be a connection removed enough. Two tech salaries between em, and they still got greedy. I don't really understand that, trashed their careers ongoing.

JumpCrisscross 5y ago

> How do such people think that they are going to get away with this? Many Americans think insider trading is l common than. If everyone is getting away with 70 mph, you can too. (Exhibit A: this thread.) In reality, insider trading enforcement is effective. The SEC looks for unusually profitable trades ex post facto. Their verification is easier than the insider trading. Wall Street doesn’t insider trade because it’s stupid and there are lower-hanging fruit.

seanmcdirmid 5y ago
Were they even American? I've heard more than a few stories of immigrants coming the states, working tech jobs, and ... getting thrown in jail for insider trading because their stock market worked very very very differently back home. It has gotten so bad that many of the big techs include mandatory training on what inside trading is and how not to do it.
- benrbray 5y ago
  I think that mandatory training is useful for everyone, not just immigrants. It's not like American high schools / colleges are teaching about finance.
  - seanmcdirmid 5y ago
    Sure, but with the right context those videos feel very cringey (who would ever do that???).
tarsinge 5y ago
Hard to believe when I see https://en.m.wikipedia.org/wiki/2020_congressional_insider_trading_scandal https://en.m.wikipedia.org/wiki/2020_congressional_insider_t...
BelenusMordred 5y ago
> In reality, insider trading enforcement is effective. This is impossible to know just like many other crimes.
sumedh 5y ago
> Wall Street doesn’t insider trade because it’s stupid and there are lower-hanging fruit. They do, its just that the CEO does not go to to jail https://en.wikipedia.org/wiki/Steve_Cohen_(businessman)#SEC_investigation_(2012%E2%80%932016) https://en.wikipedia.org/wiki/Steve_Cohen_(businessman)#SEC_...

ta3463737 5y ago

If you're in a position to know that kind of information, especially for a behemoth like Amazon, the banks they deal with are going to keep a close eye on you, and your close family (and they've seen most tricks in the book I'd guess). Just foolish and overconfident, although the fact the dad was mentioned probably means they roped him into doing the deeds thinking it'd be a connection removed enough. Two tech salaries between em, and they still got greedy. I don't really understand that, trashed their careers ongoing.