whtie collar

Insider Trading In IBM Stock Was Wrong, but That Lexus Was So, So Right


Sometimes it just feels so right to be wrong. Sometimes, the lure of easy money is too much for a good man to resist, and the thrill alone of carrying off an illicit scheme is reward enough for the risks involved.

Or something along those lines.

Take the case of David J. Weishaus and Thomas C. Conradt, former stockbrokers charged with insider trading by U.S. Attorney Preet Bharara today. According to the indictment, in 2009 Mssrs. Weishaus and Conradt got wind—from a friend of a friend who was working on the deal—that IBM was getting ready to buy a maker of data modeling software called SPSS Inc. at a substantial premium. Read More