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To: advinfo who wrote (13868)8/25/2000 12:56:00 PM
From: IceShark  Read Replies (1) | Respond to of 436258
 
Not if they are overseas and pulled the money quick with a wire transfer.

I don't know exactly how the international laws work and they may have changed, but it used to be in Hong Kong that insider trading was OK and everyone did it. A HK national had a buddy in NYork and they pulled some insider trades. The SEC caught them and was trying to put the squeeze on the HK guy. Apparently they couldn't unless the HK guy consented to it.

So, for pulling a false rumor and the SEC being able to bring charges and get the money back, it could be tough. Many brokers ignore the actual settlement date these days and let you get at the money as soon as the trade is confirmed.