IBM Message Board - Msg: 9787963

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Technology Stocks : IBM

IBM 303.23

-0.4%

Nov 26 3:59 PM EST

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To: saju chacko who wrote (5253)	5/27/1999 12:57:00 AM
From: Tae Spam Kim	Read Replies (1) of 8218

Never, never, never be tempted to commit insider trading. It is way too easy to get caught. Not to mention the fact it's wrong and illegal. Think about it, all the SEC has to do is look who bought inordinate amounts of options/stock in the company before the deal. Then law enforcement officials can check phone records and easily connect the dots between the relationships. Don't be stupid. The U.S. Securities and Exchange Commission today sued 25 people for six hours of insider trading in Lotus Development securities in 1995 that allegedly resulted from a tip by an IBM secretary. The suit, filed in Manhattan federal court, alleges that all of the trading took place within a six-hour period before IBM publicly stated that it intended to begin a hostile tender offer for all of Lotus stock. The tip, which was passed through six tiers of individuals in a gamut of professions from pizzeria owner to lawyer, generated about $1.3 million in illegal profits, the SEC said. Lotus is now a unit of IBM. - News.com

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