OP should have used different brokers, if both the friend's account and the IRA account were with IB, that's just plain laziness. At least put some effort into your fraudulent acts, sheesh! Kids these days...
Wash trade caught by IB
- Thread starter 2_nai
- Start date
lol and admitting to a crime in a public forum....
and yes..its traceable to you.
BUt dont worry about FBI - they don't have jurisdiction here.
SEC, Attorney General of your State (State Police), and IRS are your problems.
IB will be required to report this to FINRA.
SInce you are not a member of FINRA (pray to god that u are not), they will send it up to the SEC.
Now, SEC can't put you to jail, they can have legal suit against you. SETTLE IT. ANd pray they dont take it 2 steps further: IRS and your State.
The hard part is going to deciding which Obama cabinet post you want to take. In addition, you are now qualified to head the SEC or the FTC.
If there are any negative legal consequences, it is because you didn't cheat for a large enough amount. Try over half-billion next time, and there will be no hassles.
If there are any negative legal consequences, it is because you didn't cheat for a large enough amount. Try over half-billion next time, and there will be no hassles.
