SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Microcap & Penny Stocks : Naked Shorting-Hedge Fund & Market Maker manipulation?
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: rrufff who wrote (4107)12/21/2008 9:16:41 AM
From: rrufff2 Recommendations  Read Replies (1) of 5034
 
In discussing sentencing, the court states

In making this decision, the district court noted first
that, given the fact that the insider trading scheme was clearly a joint endeavor among Elgindy and the AP site subscribers, it was appropriate to take into account the subscribers’ trades.

The court also took an all encompassing approach, given the case was based not just in technical trading actions:

Given its determination that the appropriate gain amount was $1,568,000, and after taking into account other relevant factors (obstruction of justice, leadership, and extortion), the district court arrived at a total offense level of 31, which, given Elgindy’s criminal history, translated into a Guidelines sentencing range of 135 to 168 months. . . .
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News