Insider trading charge leveled at Equifax CIO

Topic

New Reply

Remember how three Equifax execs sold $1.8 million in Equifax stock, after the company was hacked but before the hack was announced? The SEC just nail
[See the full post at: Insider trading charge leveled at Equifax CIO]

7 users thanked author for this post.

Bill C., OscarCP, Elly, SueW, AJNorth, wdburt1

Reply | Quote

Replies

Yeah only concerned about themselves. Take the money and run knowing full well the stuff was going to hit the fan.

Reply | Quote

This is a white collar crime. If this executive has no criminal record (never been caught), an experienced criminal lawyer in a smart suit will make sure he suffers very little.

Punishment: I am guessing it will be a fine.

Victim statement: Please place the offender in a medieval stock and parade the him [edit – please follow Lounge rules] down main street. I’d like permission to throw cabbages at him or perhaps brussel sprouts; the frozen ones would be ideal. Then leave him in the main square – Time Square if it can be arranged – over a long weekend.

Jstice has to be seen to be considered done.

1 user thanked author for this post.

Bill C.

Reply | Quote

Meanwhile, at Intel’s Headquarters C-Suite…

(Lest we forget:

http://www.businessinsider.com/intel-ceo-krzanich-sold-shares-after-company-was-informed-of-chip-flaw-2018-1 )

Ex-Windows user (Win. 98, XP, 7); since mid-2017 using also macOS. Presently on Monterey 12.15 & sometimes running also Linux (Mint).

MacBook Pro circa mid-2015, 15" display, with 16GB 1600 GHz DDR3 RAM, 1 TB SSD, a Haswell architecture Intel CPU with 4 Cores and 8 Threads model i7-4870HQ @ 2.50GHz.
Intel Iris Pro GPU with Built-in Bus, VRAM 1.5 GB, Display 2880 x 1800 Retina, 24-Bit color.
macOS Monterey; browsers: Waterfox "Current", Vivaldi and (now and then) Chrome; security apps. Intego AV

Reply | Quote

Under US law, insider trading has a base offense level of 8, which puts it in Zone A under the U.S. Sentencing Guidelines. This means that first-time offenders are eligible to receive probation rather than incarceration. At least he will have a criminal record if found guilty. That can make life a bit difficult.

Reply | Quote

And of course Equifax fairly recently announced that even more data records than they thought was breached.

Reply | Quote

Oh!, I bet they were happy to have that news bit fly under the radar. I’m reasonably sure this Equifax breach will be like Yahoo where they had to admit the compromise of all accounts. And they, us or we will have find out if various data ever has been or will be abused for profit.

Hmm, does Equifax keep data records for all employees?

Reply | Quote

So, now Equifax denies responsibility for harming me by giving away my info to bad guys. This is outrageous. How can they still have any credibility and have important government contract awarded to them?

https://www.itworldcanada.com/article/equifax-wants-the-lawsuits-connected-to-its-2017-data-breach-dismissed

 

Reply | Quote