Cisco Worker Trades on Inside Intel, Then Rats Himself Out to the SEC

erek

erek

[H]F Junkie
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Good on him? Won't reduce the fine he'll get, though. You can't exactly undo something like that in an organic system like the stock market...

Also...

viivo said:
Inside Intel: The CPU dyslexics for choice of.
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Shit's messing with my poor dyslexic head. Pleast stot ip. :(
 
Nobu said:
Good on him? Won't reduce the fine he'll get, though. You can't exactly undo something like that in an organic system like the stock market...

Also...



Shit's messing with my poor dyslexic head. Pleast stot ip. :(
Click to expand...

unless he can prove others were doing it as well then they'll give him immunity for information.
 
I was trying to figure out how a cisco employee got inside Intel.
 
That's a second crime, either money laundering or distribution of stolen funds or something like that (not a lawyer). Robin Hood was still a thief if you go by the letter of the law.
 
For 95k he turned himself in? Jesus...

I'm curious of the crime though, I mean I get it the whole "insider trading" angle, but was he part of the meeting that talked about the acquistion? or did he just hear about it second hand? In which case I can't imagine the second case is truly insider trading...

That said, if I found out a company I was working for was going to go bankrupt, I sure as fuck would sell off any shares that may make up my retirement or what not because I'll be damned if I lose my retirement just because the people running the company made some bad choices.
 
erek said:
Wow, this is bad news! What a rat!

"Charles F. Kerwin, a 41-year-old supply chain manager at Cisco Systems Inc., earned almost $95,000 last July trading stocks and options after learning that his employer was poised to acquire Acacia Communications Inc. The deal was announced July 9. Two days later Kerwin had a change of heart and self-reported his trades to securities regulators."

https://www.bloomberg.com/news/arti...s-on-inside-intel-rats-himself-out-days-later
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they're not sendng their best.
 
Capture+_2020-02-27-07-10-55.png
 
I'm going to guess someone told him they'd rat him out or knew he was going to get discovered. Confessing looks better.
 
They also now have computers watching for trades like this, so it is a lot harder to get away with this now.
 
Starfalcon said:
They also now have computers watching for trades like this, so it is a lot harder to get away with this now.
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I doubt the SEC would really investigate 95k gains on stocks and options. Now if its in the millions then sure. With the influx of retail traders and now r/wallstreetbets making ridiculous gains on yolo plays, the SEC already has their hands full. He wouldve for sure gotten away with it if he didnt rat himself out. Not sure why you would feel bad about that anyways.
 
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