IS THIS LEGAL ? Arranged trades after hours with a friend at a hedge fund

Quote from joelgoodsen:

I have a friend working at a hedge fund.

He has asked me to make a trade with him after hours wherein he sells some stocks to me for much less than market price......
More...

Look at it this way: There's lots of "trading" that goes on in the penitentiary, so.....You should "fit" right in.
 
Quote from BSAM:

Look at it this way: There's lots of "trading" that goes on in the penitentiary, so.....You should "fit" right in.
More...
They use mackerel packets as currency in the pen.
 
Sounds like something the SEC has turned its back on to allow hedge funds to earn massive returns over the past several years.

Call up Cox, bet he doesn't care.
 
You are conspiring to defraud this fund of profits, and sharing the rewards with your friend, do you really have to ask the question?
 
Embezzlement it is, indeed. Average sentence is about 10 months of imprisonment. And you get what for that? $500 from your co-conspirator?
 
I'm calling B.S. on this whole thread unless Mr. Risky Business can offer some additional and credible details. For one, hedge funds reconcile their trades every day and this sort of activity would likely be flagged immediately. This is a really bad scam if it is for real as it creates a huge paper trail and would be very easy to detect and catch all involved. Also, OP said in a previous post that he is 41 and has been trading since he was 19. It is hard to believe that someone who says he has been around markets for 20 years did not sense something was wrong with this scenario. I don't know but there are lots of holes in this story for me.
 
In case this thread is for real..... I live here In Miami Beach, one of my neighbor's brothers works for the Miami office of the SEC. Was introduced to him a few months ago in the lobby of my condo building.

They(the SEC) know about this site and others....HINT HINT !!! They drift around these day trader sites sometimes to see if "insider info" is being passed around or other shady stuff might be going on.. HE told me this to my face !!


If you are worried as to whether you did somthing wrong....go see an attorney familar with securites law. Dont risk incriminating yourself by posting it on here you moron !!
 
You must log in or register to reply here.
Back
Top