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Raj Gupta Gets Two Years
This will learn him:
- RAJAT GUPTA GETS 24-MONTH PRISON SENTENCE FOR INSIDER TRADING
- RAJAT GUPTA FINED $5 MILLION
Moral of the story: steal $100 million (illustratively: nobody knows what the bottom line impact of the criminal activity was: could be more, could be less) -> spend two years in a minimum security country club, electric golf carts included. Look for a surge in insider trading cases with this ruling which makes risks to getting caught trading on inside information not only acceptable, but in fact welcome. The good news, for Jon Corzine at least, is that if the MF Global case ever gets to the sentencing stage (it won't), his sentence would be to fly coach class for 24-48 hours.
Crime and (non) punishment.
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White collar crime Pays Big
Cheat, steal and lie.
Only you can catch yourself
(wink wink nudge nudge)
So much for the Credibility Trap and Equal Application of the Law
(what'd you expect Knuklehead?)
Meanwhile a homeless man steals $100 and gets sentenced for 15 years.
100 million and 2 years
$100 and 15 years
Yep that's fair.
this idiot should have called Corzine's attorneys
Not even as hard as that.
Gupta could have made a few (no more than 4 or 5) $10k campaign contributions along the way and skipped altogether.
Either he didn't know how it worked, or he really wanted all the money. Greed is good but too much greed just makes you look stupid.
Gupta was a guppy.
Time to reel in the Great White Sharks.
Hey, let's go easy on the guy. I understand that the brie is never served room temperature for white collar criminals. Most uncivilized.
Nice risk to reward ration for Gupta!
Raj, even in Club Fed, there remains the single, inviolable rule of the Incarcerated:
Soap on a rope.
corzine doesn't pay attorneys
he pays judges
That is a ridculously short sentence. Gupta's lawyers must have followed the Lanny Breuer DOJ guide to avoid hard time.
Here's the U.S. Attorney from the case bragging to Cramer a few months ago and cracking up the hedge fund audience. Short but revealing clip.
"I Just Want To Apologize In Advance That I Don't Have Enough Subpoenas For All Of You..." (CNBC)
he employs judges, one might add.
15 years with a roof over his head and 3 squares - winning!
Posted wrong place, sorry
Based on that math, and assuming a linear relationship, if he stole $116 million he would serve less than a day in jail. That sounds about right. He just missed it. I thought these guys were good at math.
Don't forget Martha Stewart= 6 mos. and Michael Miliken=22 mos.
> Meanwhile a homeless man steals $100 and gets sentenced for 15 years.
> 100 million and 2 years
> $100 and 15 years
It was 500 million and 4 years back then: http://i.imgur.com/GCNy7.jpg
Makes for an even worse years-imprisoned-per-millions-stolen ratio.
How much time for Corzine? What? Friend, bag man for Obama?
Never mind....
Corzine: Biggest P.O.S. on Planet Earth
Obama: Four died, and he lied.
And speaking of Cover-Up, enough news has just come out to show that THEY KNEW it was terrorism. CBS, Reuters, CNN and FoxNews all chiming in...
"Four Died, and Obama Lied"
http://tinyurl.com/8bp9bot
Wow doesn't sound like a bad trade at all.
http://schiffblog.blogspot.ca/
I guess fair is fair with all the other manipulation in the market. Guess I might as well get busy.
In CA you get 24 months for using a non CARB lawn mower.
Thats "fair" right??
I mean what's your "fair" share of someone else's wealth?
Are those Country Club Prisons really designed to keep people OUT who make seek true justice?
Excellent point. +1
Shows just how Just the Justice system really is. My brother spent 5 years hard time for robbing $25 out of a coke machine with a crowbar.
Steal 100 million and let it draw interest for 2 years and retire.
disgusting sad state of affairs
My buddy got 5 years for buying a stolen computer. DA couldn't prove that he purchased it knowing it was stolen. Didn't matter. It was an election year and the DA was running for major. Backroom deal and the judge threw the book.
Justice is spelt wrong according to Gerald Celente.
It should spell Just-us! meaning them.
Justice is spelt wrong according to Gerald Celente.
It should spell Just-us! meaning them.
Celente, Bondavi, La russo, Manchini
THAT WILL SET AN EXAMPLE!
Now the crooks have to decide if it is worth it.
I like the way China deals with these assholes, and in a public setting.
Look for this sentence to be appealed.
His check to the "Re-elect Obama" campaign must have cleared.
i completely agree with you, but if we create a templated post;
we're good to go, whoever is the president next time around
how much time did pelosi get? twat.
And congress sits back and laughs as they continue to profit big from thier own insider trading.
Where do I sign up for this gig?
Goes to show that if you are going to steal, make it big! Really big. Bigger the better. Fuck yeah. It's what America is all about these days. Right? Land of opportunity.
Shit on my dick or blood on my blade.
If they stick him in my cell I'm either gonna put a knife in him or a dick in him.
fucking hell that's disgusting
that man should rot up in a tiny bang-me-in-the-ass prison cell
DISGUSTING!
The US "Justice" System is one broken motherfucker.
Only darkies go to prison.
Those of the Temple don't even get charged lest they confess.
So that expalins the two yaers... kinda darkie, ex-temple
Gotcha
douche bag says what?
That'll learn him!
$5 million.... there goes the beach house.
You mean, beach house addition.
Isn’t that as much as the HILDEBRAND’s got in their mountainside penal villa in Davos?
This is bullshit. Watch the ending scene of "Boiler Room" when the paddy wagons and prison buses pull up to the fictional "JT Marlin" headquarters to arrest all the financial criminals. That's what we need, Federal Marshalls, prison buses working overtime, and tent cities for all these clowns.
Mutually assured financial destruction. At this point, the banks have the world by the balls. This had to be an election year gimmick (ohh, look, we are cracking down on Wall Street... lol). This guy will walk in a matter of months. Else, he could probably do some real damage - or have some real damage done to him... works both ways I suppose. Point is, the banks have a license to kill and are using it. On this course it is going to be serious escalating damage control until someday we wake up and find ourselves living in a real life version of the Hunger Games.
Corzine will get Robespierred. The scandals come up faster than hf trading.
Before Corzine gets RObespierred you first have to behead the king and his minions; you're TWO steps behind the french revolution in your plot.
When you see that in order to produce, you need to obtain permission from men who produce nothing; when you see that money is flowing to those who deal not in goods, but in favors; when you see that men get rich more easily by graft than by work, and your laws no longer protect you against them, but protect them against you … you may know that your society is doomed.
~ Ayn Rand
Tyler-have you flown coach in the past 5 years?
TSA gonad gripping and fanny fondling rule the day. And the seats? Don't get me started with those!!
No, I do not envy Jon one bit!
Wait a minute..doesnt the house of con. I mean Congress still inside trade?
http://www.huffingtonpost.com/2012/09/13/stock-act-injunction_n_1882143.html
McLEAN, Va. -- A federal judge on Thursday temporarily blocked enforcement of a new insider trading law that would require nearly 30,000 federal workers to disclose details about their financial transactions on the Internet.
U.S. District Judge Alexander Williams Jr. in Greenbelt, Md., issued a temporary preliminary injunction that bars the law, called the STOCK Act, from being enforced on executive-branch employees until at least November. President Barack Obama signed the bill into law in April.
Williams wrote that the law appears to illegally infringe on federal workers' right to privacy.
The injunction does not affect enforcement of the law against members of Congress and their staffs. The law was originally written to apply only to Congress but was amended to extend to senior members of the executive branch, including the military.
Without the injunction, the law would have taken effect at the end of the month. The injunction gives Congress time to possibly change the law. Discussions are under way to exempt the executive branch, said Bill Bransford, general counsel for the Senior Executives Association, one of the organizations that sued to block the law.
Arthur Spitzer, legal director for the ACLU's Washington, D.C., chapter, which helped file the lawsuit, said the ruling is encouraging because the judge indicates that he granted the injunction in part because he believes the plaintiffs are ultimately likely to prevail.
Government lawyers had argued against issuing the injunction.
The executive branch employees who would be covered under the law already have to file financial disclosures with the Office of Government Ethics. As a practical matter, though, those forms are rarely inspected by the public. Under the new law, though, the information would be easily available to anyone on the Internet. The idea is that disclosing such information would expose any transactions in which an individual benefits from inside knowledge on congressional actions that affect the marketplace.
http://insidertrading.procon.org/view.resource.php?resourceID=004520
Gee Bunny. I'm very shocked at that one. The judge protecting the insiders? Shocking!
ROFLTMAO!!!!
Best line you're written in a long time Tyler (and granted, there are usualy several good ones to pick from).
Great article.
Jerome Kerviel gets sentenced today to 4.9 BILLION damages against Soc Gen and 3 years in jail in appeals court. He is going to Supreme court after this decision that shows that the Inquisition has not left the french legal system; the smaller you are the bigger the blame while the big guys who told you to go for it go scot free!
Its a legal scam beyond a scam...
Mind you that America is the land of freedom. Free to break law, too.
money talks and bullshit walks.
shirley he has to give back the $100 million, right? RIGHT??!
Well... the public outcry is to throw the crooks in jail and well... so compared to the usual no jail time... the Feds can say they are showing they are tough...
So the remedy is:
The public outcry needs to be to for these fuckers to be tied next to Giant Ant hills ... the ones that give the painful stings.
And put a Google Earth camera on them... and people can pay extra for the footage where the head becomes detached from the rest of the body.
sounds like a viable career plan to me >_<
"That's the difference between crime and business. For business you gotta have capital. Sometimes I think it's the only difference."
"A properly cynical remark," I said, "but big time crime takes capital too."
"And where does it come from, chum? Not from guys that hold up liquor stores. So long. See you soon."
Raymond Chandler, The Long Goodbye
Yeah, I've used it before. So what? Still true, ain't it?
The DoJ can now file a civil case against Gupta, and given the Criminal conviction, this is now a slam dunk.
I would be surprised if the DoJ doesn't have some junior attorney file for this.
Conrad Black BBC interview
http://www.bbc.co.uk/news/world-us-canada-20036674
For the balancing act, the next 100,000 people who steal a collective $100 Million will be sentenced to a collective 1 Million years in prision at a cost of $10 Billion. All to be housed in privately run prisions for profit, of course.
Hopefully he'll get shanked in prison.
That would be getting killed by wickedly sliced golf ball.
This Charlie has got off very cheap because of his Wall Street connection with Goldman who control the judges,
And he didnt spill the beans on others.
What a f***in tragedy. Take his left hand.