Swiss Trader Spills Secrets of Global Insider Network (1) (Bloomberg Law)
He tapped a safe full of cash to pay off corrupt stock tipsters and used phony invoices for artwork sales to mask some payments. He stole information from his banker girlfriend, placed stories with journalists and disguised illegal trades by using other people to make share purchases. On Wednesday, Marc Demane Debih, a failed Swiss entrepreneur, revealed to a New York jury the secret methods he used to earn $70 million in illegal profit from a global insider-trading network. Testifying for U.S. prosecutors, he is the government’s star witness in the trial of Telemaque Lavidas, the first to face a…
Ex-Speaker John Boehner Calls Lying Former Congressman Chris Collins ‘Good Man’ as Defense Requests No Jail Time in Insider-Trading Case (CNBC)
Former House Speaker John Boehner called disgraced former New York congressman Chris Collins a “good man” in a letter submitted by Collins’ lawyer as part of a bid to win him a no-jail sentence in his insider-trading criminal case. Boehner was one of more than a dozen past and present Republican members of Congress to write letters supporting Collins that were included in the sentencing memorandum filed Tuesday by a defense lawyer.
A Major Shareholder at Winmark (NASDAQ: WINA) is Selling Shares (Analyst Ratings)
Yesterday, a Major Shareholder at Winmark (WINA), Ronald G. Olson, sold shares of WINA for $991.6K. Following Ronald G. Olson’s last WINA Sell transaction on March 22, 2019, the stock climbed by 44.6%. Based on Winmark’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $19.68 million and quarterly net profit of $9.11 million.
Lamb Weston Holdings Inc (LW) Senior Vice President and CFO Robert Mcnutt Sold $793,075 of Shares (Guru Focus)
Senior Vice President and CFO of Lamb Weston Holdings Inc., Robert Mcnutt, sold 8,696 shares of LW on 01/08/2020 at an average price of $91.2 a share. The total sale was $793,075. Lamb Weston Holdings Inc is a producer, provider, and marketer of value-added frozen potato products. It is a supplier of frozen potato products internationally. Its products include puff, chips, steak cut fries, trim fries, appetizers, among others.
Sebi Disclosure Norms to Check Insider Trading IRK Corporate Honchos (TimesNowNews.com)
New Delhi: The Securities and Exchange Board of India (Sebi) diktat, which instructed corporate bigwigs to divulge personal financial transactions, appears to have rubbed senior executives the wrong way as they are reportedly exploring all options to guard themselves against any unintended consequences. As per the market regulator’s ‘material financial relationships’ rules, company insiders will have to disclose details of all people with whom they have significant financial dealings, including such deals where the executive has paid money to a family member or relative – that amount to higher than 25 per cent of the individual’s last one-year earnings.
SEC Charges Individual with Orchestrating Offering Fraud (HedgeCo.net)
(HedgeCo.Net) The Securities and Exchange Commission has charged Donald G. Blakstad and two entities he controlled with engaging in the fraudulent offer and sale of over $3.5 million of securities. The SEC’s complaint alleges that, between July 2015 and May 2019, Blakstad induced investors to purchase the securities of companies he controlled, including both Energy Sources International Corporation and Xact Holdings Corporation, by making materially false and misleading statements and omissions about the use of investor proceeds and business operations. According to the SEC’s complaint, instead of using investor funds as promised, Blakstad misappropriated at least $2.2 million of investor funds. Blakstad allegedly spent the investor funds on personal entertainment, the purchase of a stake in a night club, and a luxury automobile. In July 2019, the Commission charged Blakstad for his role in a separate insider trading scheme.