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Old 2005-03-04, 11:27 PM   #13
cd34
a.k.a. Sparky
 
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Join Date: Sep 2004
Location: West Palm Beach, FL, USA
Posts: 2,396
If she had taken the insider trading rap, its a cash fine and usually doesn't exceed a reversal of the trade + a %. Insider Trading doesn't involve any jail time, although, she would have lost her brokerage certificate. As it stands, she's an accredited broker that seemingly doesn't know how to properly request a stop-loss order.

It was the Obstruction of Justice charge that landed her in Camp Cupcake which I believe could have had a five year term, and I believe there is manditory jail time.

Its my personal opinion that she did get a call from Waskall that advised her to dump her shares. I think she called her broker and said, hey, dump my stock first thing. When Stockwatch made the call to investigate, she said, no, it was a well timed sale and figured it would be left at that. To cover her ass, she called her broker, had him change his sheet, sent him on vacation for backing up the story and thought it was behind her.

In the era of Corporate Fraud, the .bomb, the failure of many companies to properly report results, massive bankruptcies, questionable booking of earnings, etc, she became the poster child, whether deserving or not.

I think the government did get a bit greedy and I believe it was insider trading. Why she was that concerned over $54k really is the thing that gets me. If she had just admitted that she did get the info in Waskall's call the night before, Waskall would have been indicted , she would have lost the $54k, paid a fine (probably another $25k) -- she protected him at great cost to herself. Until her name is cleared and the felony reversed, she cannot head a public company.

Noble effort... wrong cause.
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