Trader and Pals Charged for Insider Trading
Nomura trader Trent Martin was arrested last week resulting from US charges of security fraud concerning IBM’s $1.2b 09’ acquisition of software firm SPSS.
Apparently, after learning of the acquisition from a close friend working as a lawyer on the deal, Martin purchased common stock, yet not before telling his roommate (Mr Conradt). Now a total of five participants have been charged, allegedly profiting up to $1.2million on both common stock and calls after SPSS popped 41% on the day of announcement.
What follows are segments of a rather humorous exchange between Martin’s roommate, Conradt, and another associate:
Conradt: we gotta keep this in the family
Weishaus: dude, no way, i don't want to go to jail, f--- that
Conradt: jesus christ
Weishaus: martha stewart spent 5 months in the slammer
Conradt: i got no options, wtf, I'm setting this deal up for everyone
Weishaus: haha
Conradt: makin everyone rich
Weishaus: [a second friend] is gonna put in 50k, sept options
Conradt: holy f---
Weishaus: i tlak.ed [sic] to him last night
Conradt: god trent told me not to tell anyone
Weishaus: ahhaha, so awesome
Conradt: big mistake
Weishaus: eh, we'll get rich
Conradt: in any case, i'm just glad to contribute actually, you guys have done a lot for mf:, esp you and [the second friend], i didn't think for a second i wouldn't tell you
Weishaus: this is gonna be sweet, we just need this thing to pop next week, or im out
Conradt: it's gonna blow up
Weishaus: yeah, we're just time strapped, anywya [sic], lets not type
Can't post links to full article, search Trent Martin.
Blanditiis dolores omnis aliquid non sapiente incidunt labore. Laborum dolorem reiciendis voluptatem. Rerum voluptas nostrum est sed rem ut consequuntur. Distinctio aliquam autem ipsa quod ipsam quas. Qui maxime eligendi deserunt quam sequi assumenda.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...