Legal Question in Business Law in Maryland
Insider Trading
In my accounting class, the topic of insider trading arose. I asked my professor if the person found guilty of insider trading gets to keep the money they made of the illegal activity. Arguments for keeping the money and giving it back both came up, but no one came to a conclusve decision. I was wondering what happens to the money that was a product of the illegal transaction.
Asked on 1/18/07, 8:17 pm
1 Answer from Attorneys
Robert Sher
Wagshal and Sher
Re: Insider Trading
If a person is convicted of insider trading, invariably the sentence will require restitution of any ill gotten gains, as well as a fine on top of that. Frankly, I'm surprised your professor didn't know that.
Answered on 1/22/07, 10:42 am
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