3 ms·
Andy is acused of buying “options in Acacia using the accounts of a close relative and associate.” Is it possible he passed on information to these other indiv
by danw1979 3y ago
Andy is acused of buying “options in Acacia using the accounts of a close relative and associate.”
Is it possible he passed on information to these other individuals, and lent them the money to make the trades, but he wasn’t intending on profiting himself ? And he’s taking the rap because, yes he’s actually guilty of crimes.
I admit this is a generous and perhaps far fetched reading of the situation, but it’s bizarre that he’d risk the wrath of the SEC for a tiny gain in his individual fortunes.
- burutthrow1234 3y agoTipping is still illegal if you know the recipient intends to trade. The person who asked him for advice trusted him with material non-public information, if he shares it and it gets traded on he's liable either way. To be clear the person who asked for advice was not tipping because they had a reasonable expectation that he would obey securities law and not trade based on the information. They were asking for actual business advice.