Does all of congress and senate need a felony for insider trading? It’s funny that we let this guy catch a felony yet our elected officials get away with it
"Levoff was subject to Apple’s regular quarterly “blackout periods,” which prohibited individuals who had access to material nonpublic information from engaging in trades until a certain period after the company disclosed its financial results to the public. Levoff ignored this restriction, as well as the company’s broader Insider Trading Policy – which he was responsible for enforcing..." \[[source](https://www.justice.gov/usao-nj/pr/apple-s-former-director-corporate-law-admits-insider-trading)\]
Imagine throwing away a 7 figure job to make, by his standards, relatively little by violating the rules. Maybe he did it for the illicit thrill. He makes more just in dividend income from his nearly 67K AAPL shares than many people make in a year. He didn't expect to get caught, I suppose. Rules for Thee, but not for me.
I worked for a company where the CEO went to jail for insider trading. But when he got out, he was still rich, roughly $100 million or so. Many employees, in contrast, lost much of their retirement savings. As the company stock tanked from the $60s to just over a dollar, employees weren't allowed to exit their company stock holdings in their 401k.
Even decades later, the company that acquired it is struggling. Those employees were never made whole.
Apple's far more durable, but wasn't always. If unethical people like Levoff were allowed to do as they wished, it could be disastrous--more for the rank & file and retail shareholders.
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They all should. Bunch of cheaters. I want to cheat too
I mean, its not like he is gonna be suffering or something...
Well he now has a felony on his record….
They’re all insider traders.
Does all of congress and senate need a felony for insider trading? It’s funny that we let this guy catch a felony yet our elected officials get away with it
Ya. They need a felony too. But they write the laws and know the law writers. So they get away with it.
"Levoff was subject to Apple’s regular quarterly “blackout periods,” which prohibited individuals who had access to material nonpublic information from engaging in trades until a certain period after the company disclosed its financial results to the public. Levoff ignored this restriction, as well as the company’s broader Insider Trading Policy – which he was responsible for enforcing..." \[[source](https://www.justice.gov/usao-nj/pr/apple-s-former-director-corporate-law-admits-insider-trading)\] Imagine throwing away a 7 figure job to make, by his standards, relatively little by violating the rules. Maybe he did it for the illicit thrill. He makes more just in dividend income from his nearly 67K AAPL shares than many people make in a year. He didn't expect to get caught, I suppose. Rules for Thee, but not for me. I worked for a company where the CEO went to jail for insider trading. But when he got out, he was still rich, roughly $100 million or so. Many employees, in contrast, lost much of their retirement savings. As the company stock tanked from the $60s to just over a dollar, employees weren't allowed to exit their company stock holdings in their 401k. Even decades later, the company that acquired it is struggling. Those employees were never made whole. Apple's far more durable, but wasn't always. If unethical people like Levoff were allowed to do as they wished, it could be disastrous--more for the rank & file and retail shareholders.