FBI indicts three in insider trading scheme that utilized Xbox 360 chat to hide comms | Ringleader could be looking at as much as 165 years in prison::undefined
SIE VERLIEREN
Ironically, Viggiano and his team from the University of Tampa won a 2018 ethics competition
Best part of the article.
Salamone tried to keep the lion’s share for himself and undid them all by recording the conversations. Conspiracies sure would be a lot more popular if everyone involved wasn’t a scumbag.
I like what Robert Anton Wilson had to say about conspiracies and their life cycles:
“[A]s far as I’ve been able to discover in all my years of being involved, more or less unwillingly, in this field, I cannot find any proof of any conspiracy that really existed, was really brought into court and convicted, that lasted more than ten years before everybody double-crossed everybody else and the conspiracy fell apart.”
In fairness, there has to be some survivorship bias here: if the members of a conspiracy don’t double-cross each other and are competent enough not to expose themselves, it’s a lot less likely they’d ever get brought into court in the first place.
Agreed, and I suppose it’s the ones we don’t hear about that are the real bad ones.
Points for creativity, I guess? I’m pretty sure a Goldman Sachs analyst can figure out how to do it properly, though…
Fun fact, personal cell phones on the trading floor arnt allowed, to avoid unlogged comms by traders.
Aren’t trading floors mostly empty these days since trading is much more automated?
Yes, but as long as human traders exist, there is a need to log all of their communication to prevent malfeasance
They just copied the idea from terrorists
Rubber dinghy rapids bro
HEY! You stole money from the people who have lots of money! THAT’S MORE ILLEGAL THAN ALL THE OTHER STUFF!