4 ms·
>If people were actually fined 100 million for 1 million of insider trading I bet you it’d stop happening. >For comparison $250 or more stolen is grand larceny
by drstewart 5y ago
>If people were actually fined 100 million for 1 million of insider trading I bet you it’d stop happening.
>For comparison $250 or more stolen is grand larceny and has a max fine of 25K and/or 5 years in state prison.
And as we all know, there's no more grand larceny
- endisneigh 5y agoLarceny sentencing is also incredibly lenient in practice. This month an Erie County bookkeeper stole 90K from her clients and only had to pay 50K in restitution. My general point is that white collar criminals are hardly punished in practice - not that insider trading should be treated as larceny. (Because as I pointed out the sentencing is generally light anyway)