Friday, March 2, 2007
Insider Trading Scandal-What Happened?
The traders were caught the fraud occured because one of the traders was in debt with the other one. So they both agreed that one of the traders would tell him information about the stocks. So the other trader will know when to buy or sell the stocks. One of the traders was sharing information so that's illegal. They communicated by codes and to trade the money they went to hiding spots. They made a lot of money because they knew what to do and when the stocks were going to go up or down and when they could sell there stocks so they won't lose money. They shared information about the stocks that the way they made lots of money and they did different trades that will win them a lot of money. So they will be facing court for fraud.
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