Why didn't the Wongs buy options?

blackchip · May 9, 2007

Ask the folks in Gitmo.

Quote from bsparkyman:

Stupid question, but can the us criminally charge a non citizen for breaking us laws when not on us soil? Hypothetically, what if the stock was bought on a foreign exchange? (Don't know if they were or not?) Only connection to the us would be the broker.

bsparkyman · May 9, 2007

They are being charged by military tribunal, at least that's what I thought. Not by us under criminal code. Again I am not a lawyer.

Quote from blackchip:

Ask the folks in Gitmo.

ZoneTrooper · May 9, 2007

Quote from bsparkyman:

Stupid question, but can the us criminally charge a non citizen for breaking us laws when not on us soil? Hypothetically, what if the stock was bought on a foreign exchange? (Don't know if they were or not?) Only connection to the us would be the broker.

Hmm. Can a person who is selling child porn off a China based web site be convicted under U.S. Criminal Law? I believe the answer is no.

Can the same person located in China open an account with bluehost.com (A US Web Hosting Service) and run the same type of web site and not be able to be convicted under U.S. Law? I believe so. Since technically the criminal act took place in the U.S.

I believe, the same thing hold true with the Wongs. They used a U.S. base company to place their trade, therefore giving U.S. Court some jurisdiction in the matter.

Anyhow, if the Wongs want their money back, I'm sure the judge is going to require that they show up before him.

And if they did come to the U.S. or any of its terretories, I think that would be the Wong thing to do on their part.

I figure the SEC beleives that that Wongs will never come to court to get there money back, which makes this an easy case for them to win. And I'm also certain the the SEC does not want to extradite them for this very reason.

It sure would be a shame if the Wongs weren't really guilty.

Surdo · May 9, 2007

Two Wongs don't make a Wight!

subban · May 9, 2007

So Hu's on first?

flytiger · May 9, 2007

Quote from subban:

So Hu's on first?

Wong again! Chin's on Second with a double. Double? Chin?

Here these poor bastards are probably going to be executed, and we're making punny jokes. Ain't America great???

crazy_trader · May 9, 2007

Look up the old case for Voicestream. Similar case happened in Hong Kong. Not sure what was final outcome of the case.

bloosteak · May 10, 2007

They don't execute rich people, nice try at generalizing though.

loufah · May 10, 2007

Quote from demoship:

Hell, if you're going to be a douchebag and make a highly suspicious trade that's gonna get your ass busted, why didn't they just buy 15 million worth of the may 45 calls?

Maybe the bid-ask spread was too wide.

loufah · May 10, 2007

Quote from bsparkyman:

Stupid question, but can the us criminally charge a non citizen for breaking us laws when not on us soil? Hypothetically, what if the stock was bought on a foreign exchange? (Don't know if they were or not?) Only connection to the us would be the broker.

I don't know about the US, but it can happen in similar countries. Yahoo was sued in France because it did not prevent people in France from accessing offensive material on its US web site. A French judge upheld the ruling, but last I heard a US judge struck it down.