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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: peter_moreno who wrote (58542)	8/11/2000 6:55:46 PM
From: LPS5	Read Replies (1) \| Respond to of 122087

Again, Pete: First, and for the second time, this discussion has nothing to do with anyone on SI. Second: One need not be an employee of a company to trade illegally on insider information! Once anyone comes into possession of privileged information - that which is material and nonpublic - poof, they're a de facto insider, and can break the law accordingly. So - unless an individual can prove (usually by that time, in court) that they had no way of knowing that information they traded off of was privileged, insider information, they can be prosecuted for doing so. Now: If the interpretation of Druss' scenario is that some engineer had been up on the hill years before and said (either publicly or to himself): "When I was up there, there was no gold, and there ain't none now!", and traded off of such: such information might be privileged, and it might not. That scenario could swing both ways, because while such knowledge is inarguably material, arguments could be made that such information was, by that time, public (ie, a PR years before saying that the location had no gold). LPS5

To: peter_moreno who wrote (58542)	8/11/2000 7:18:50 PM
From: Druss	Read Replies (1) \| Respond to of 122087

Peter and LSP5 My understanding was that the Aussie engineers information was public. That BRE-X went in and did core sampling that 'proved' them wrong. So it would have been knowledge available to the public. The Aussies worked for a different company. BRE-X remains my favorite stock scam of all time. The 'most valuable gold find of all time' created with 25k in gold salted on to some core samples. Insiders made a fortune and the blame was given to a mining engineer who was accidentally thrown out of a helicopter. All the Best Druss