She sold $230,000 worth of stock in a biopharmaceutical company after executives tipped off friends and family about a key drug they were researching failing to acquire FDA approval. After news became public, the company’s stock fell.
She was sentenced to 5 months in prison, 5 months of house arrest, two years probation, and recieved a 5 year ban from serving as an executive of a public company, and a fine of $195,000. She has also been denied entry into other countries like Canada and the UK for being a convicted felon.
… Isn’t that almost exactly the same thing Vivek Ramiswamy did?
Started or bought a biotech firm, literally got his own mother to conduct a ‘study’, concluding a drug in development worked and had potential, when in fact everyone knew it was bullshit, then he sold all his shares before larger studies concluded more publically that the drug was indeed bullshit?
That was pretty much what I meant in a roundabout way. They’re being extremely harsh on her when other people are getting away with the same or worse on a daily basis.
She sold $230,000 worth of stock in a biopharmaceutical company after executives tipped off friends and family about a key drug they were researching failing to acquire FDA approval. After news became public, the company’s stock fell.
She was sentenced to 5 months in prison, 5 months of house arrest, two years probation, and recieved a 5 year ban from serving as an executive of a public company, and a fine of $195,000. She has also been denied entry into other countries like Canada and the UK for being a convicted felon.
… Isn’t that almost exactly the same thing Vivek Ramiswamy did?
Started or bought a biotech firm, literally got his own mother to conduct a ‘study’, concluding a drug in development worked and had potential, when in fact everyone knew it was bullshit, then he sold all his shares before larger studies concluded more publically that the drug was indeed bullshit?
Holy shit. That seems a bit harsh.
Or, stick with me, it’s not overly harsh, it should just be applied to everyone who does insider trading.
That was pretty much what I meant in a roundabout way. They’re being extremely harsh on her when other people are getting away with the same or worse on a daily basis.
Oh definitely - Black Edge is a fascinating book on the subject if you’re interested.
I’ll go check it out thanks.
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Precisely my point. The other people doing this shit are getting away with it.