26CornerBlitz Posted May 19, 2016 Posted May 19, 2016 @AP BREAKING: US Securities and Exchange Commission files complaint against pro golfer Phil Mickelson for insider trading.
UConn James Posted May 19, 2016 Posted May 19, 2016 Akin to Martha Stewart teaching her jailmates how to knit, etc., perhaps Phil will provide driving lessons and correct his cellmates' swing form?
26CornerBlitz Posted May 19, 2016 Author Posted May 19, 2016 Akin to Martha Stewart teaching her jailmates how to knit, etc., perhaps Phil will provide driving lessons and correct his cellmates' swing form? I believe he'll be headed to the hole in a Super Max.
DC Tom Posted May 19, 2016 Posted May 19, 2016 Wow. $931K in one day. Homeboy is in some deep schit. No he's not. He apparently traded on information that was given to him, that he did not know wasn't public info. He's got to pay a fine (basically give the profit to the SEC, I think), but there's no criminal wrongdoing on his part. The guy that GAVE him the inside info...he's screwed...
Beerball Posted May 19, 2016 Posted May 19, 2016 No he's not. He apparently traded on information that was given to him, that he did not know wasn't public info. He's got to pay a fine (basically give the profit to the SEC, I think), but there's no criminal wrongdoing on his part. The guy that GAVE him the inside info...he's screwed... You mean Gugny was full of crap?
Gugny Posted May 19, 2016 Posted May 19, 2016 You mean Gugny was full of crap? I merely misunderstood. I'm sorry, guys.
Chef Jim Posted May 19, 2016 Posted May 19, 2016 (edited) No he's not. He apparently traded on information that was given to him, that he did not know wasn't public info. He's got to pay a fine (basically give the profit to the SEC, I think), but there's no criminal wrongdoing on his part. The guy that GAVE him the inside info...he's screwed... No that would be wrong. If he is found guilty of insider trading his civil penalty can be up to three times the gains made or losses avoided. Oh BTW I've not been around lately. Been crazy busy at work and my assistant quit. I just popped in to tell Tom he's wrong. Edited May 19, 2016 by Chef Jim
Nanker Posted May 19, 2016 Posted May 19, 2016 Your diligence and fortitude are duly noted and are now a part of the minutes of the meeting.
26CornerBlitz Posted May 19, 2016 Author Posted May 19, 2016 @Sportsnet Update: Phil Mickelson will forfeit nearly $1M after insider trading scheme: http://sprtsnt.ca/1sBHfpH
Chef Jim Posted May 19, 2016 Posted May 19, 2016 @Sportsnet Update: Phil Mickelson will forfeit nearly $1M after insider trading scheme: http://sprtsnt.ca/1sBHfpH He got off easy.
DC Tom Posted May 20, 2016 Posted May 20, 2016 No that would be wrong. If he is found guilty of insider trading his civil penalty can be up to three times the gains made or losses avoided. Oh BTW I've not been around lately. Been crazy busy at work and my assistant quit. I just popped in to tell Tom he's wrong. Yes, I know that, but in his particular case the SEC appears to be just taking his profits, as a relief defendant who profited from other people's actions with no knowledge of their actions being illegal.
Gugny Posted May 20, 2016 Posted May 20, 2016 Yes, I know that, but in his particular case the SEC appears to be just taking his profits, as a relief defendant who profited from other people's actions with no knowledge of their actions being illegal. Shirley, you don't believe this.
CommonCents Posted May 20, 2016 Posted May 20, 2016 That raises an interesting question, is he still a choke artist or perhaps he had debts to pay?
DC Tom Posted May 20, 2016 Posted May 20, 2016 Shirley, you don't believe this. "Hey, you know, you should buy this stock. It's going to skyrocket." "Oh, okay." Yes, it does happen. What, you think every insider tip comes with a label "WARNING: Inside information. Do not trade?" Shirley you don't believe this. The SEC doesn't.
Gugny Posted May 20, 2016 Posted May 20, 2016 "Hey, you know, you should buy this stock. It's going to skyrocket." "Oh, okay." Yes, it does happen. What, you think every insider tip comes with a label "WARNING: Inside information. Do not trade?" Shirley you don't believe this. The SEC doesn't. This is the 2nd time (that I can see, anyway) that he's been linked to insider trading. He knows. Pat Moran would run his daughter over if I was wrong.
Chef Jim Posted May 20, 2016 Posted May 20, 2016 Yes, I know that, but in his particular case the SEC appears to be just taking his profits, as a relief defendant who profited from other people's actions with no knowledge of their actions being illegal. Yes you know that now because I pointed it out. You words "I think" were the give away.
truth on hold Posted May 20, 2016 Posted May 20, 2016 (edited) What a d bag this Thomas Davis guy is too. Entrusted as the company's chairman. Really thought he'd get away with it? http://m.huffpost.com/us/entry/phil-mickelson-insider-trading_us_573dd129e4b0aee7b8e922d1 Edited May 20, 2016 by truth on hold
DC Tom Posted May 20, 2016 Posted May 20, 2016 Yes you know that now because I pointed it out. You words "I think" were the give away. No, I knew that was the case for criminal cases. I wasn't sure if it was the case for a civil case against a relief defendant...which, apparently, it isn't.
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