Rep. Chris Collins arrested for insider trading

Sig said:
There's actually some interesting research that shows that powerful people do in fact end up with a cognetive blind spot that leads them to behave as if they are above the rules that apply to normal people. You summed it all up well in one sentence.
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These practices actually works with small puny individuals who do not have the power to stay in the game of lawyers, courts and society pressure. However, when same tricks are played against entities like SEC etc. then butt cheeks really get squeezed brutally hard.

However, it can still be predicted that this representative will get away with some fine, disgorgement of profits and no jail time.
 
SimpleMeLike said:
Thanks for sharing.

Here is the part I don't understand.

If you worth $66 Million and you Know you doing illegal trading, why not stop after you make your money for your family??

it makes 0 sense. I'm worth 66 million and I STILL doing illegal stuff.

Make your 1-4 million and exit the game.

It's like a drug dealer making millions a year and continue selling dope.
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After your net exceeds that $15MM - $20MM liquid net worth ... It becomes about Ego & keeping score.. nothing more.

For most ego maniacs that meet/ exceed what I call the Independently wealthy mark of $20MM.. They need something else to strive & fight for... their focal point becomes the score board.
It`s not until they are sitting behind bars in Bunton NC or Club Fed, does it gets to the
" what the fuck was I thinking " phase.

Human Nature is a tricky thing......
 
mlawson71 said:
Called his son six times in 15 minutes, he must have really thought he was untouchable to be this obvious about it.
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I messed up the order of things in the cliffs. He called his son 6 times 15 minutes after the board meeting w/the bad test results, his son executed the sale. Not that it helps him any.
 
Here4money said:
He already stepped down
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OK thought he just put his reelection on hold but glad to see he stepped down. Innocent until proven guilty and all that but the initial info we know shows no doubt he made the phone calls to his son who sold off the stock (no different than Martha Stewart). He is done even if only a fine...
 
El OchoCinco said:
OK thought he just put his reelection on hold but glad to see he stepped down. Innocent until proven guilty and all that but the initial info we know shows no doubt he made the phone calls to his son who sold off the stock (no different than Martha Stewart). He is done even if only a fine...
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No way that he doesn't serve time. His only defense is that he (personally) didn't sell any shares, but he was a restricted insider. He was on the board and a 17% holder. The family was even trying to sell the shares that night on the ASE rather than wait for the ADRs to open in NY.

I was simply named by a guy under investigation in IMNR (Immune Response) when I was in my early 20s. They convened a GJ in Chicago over it. I traded in IMNR, but only after the FDA trial failure hit the wires. No action.

This is serious shit and the evidence is overwhelming.
 
I find it funny that a lawyer with a valid law degree is proposing the defense that he never sold any shares. I could go to the worst law school in the country and ask them for the students graduating at the bottom 1% and all of them would say he is guilty of insider trading, probably without doing more than 30 seconds of research.

His lawyer is a fuckstick.
 
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