4 ms·
Wouldn't that mean that you can have a friend do the pump, and you do the dump? Sounds like the guy in the original article did both and therefore wouldn't be s
by giarc 3y ago
Wouldn't that mean that you can have a friend do the pump, and you do the dump? Sounds like the guy in the original article did both and therefore wouldn't be saved by that Texas ruling.
- kasey_junk 3y agoThe Texas ruling doesn’t (as far as the coverage I’ve read) require that level of separation. Rather just selling to “the market” is enough to insulate you from fraud charges.
- malfist 3y agoDo people actually direct sell stock? At least retail investors
- kasey_junk 3y agoNo. Even those that hold directly via a transfer agent don’t directly sell. If that court case holds there is no such thing as securities fraud.
- pcthrowaway 3y agoMaybe I'm wrong but I think people can use OTC trades for this (though OTC trading desks typically wouldn't share counterparty information IIUC)
- listenallyall 3y agoGreat idea, now you've just added a RICO charge to the prosecutor's menu