0:00 [Music] all right so there's this dude who made $2.3 million off of some insider trading cool by snooping in on his wife's remote work calls without her knowledge oh is that still without her knowledge is that still illegal yeah is that insider trading or is that just really good hearing yeah there e dropping that's not bad you that regardless definitely insider trading is it yeah so this dude in Texas has been charged with insider trading after he made over 2.37 million Canadian dollar $ 1.76 million a Mone listening in on his wife's remote calls while she worked from home uh it's not that she told him it's he was hearing it dick a
0:52 cup don't believe him AB the SEC accused him of uh taking advantage of his wife's work from home setup to Ain non-public information and Garner illegal profits basically his wife um specializes in works for uh with merger uh and Acquisitions uh she's a manager for that and so he knew that a company was about to be acquired oh because she was the one who was handling the acquisition and so in that time before the announcement went through he ended up buying he bought 46,4 shares of Travel Center stock without his wife's knowledge suspicious and then that stock jumped like crazy after that news was put out and he cashed out ████ Millions dud how do they maintain a merger and acquisition is something that's so major that so many people are involved in and every
1:43 time they manag to not tell anyone yeah I know it's true so many people know so many people know and the fact that they could tell if a relative did it that's weird it's crazy to me I feel like this guy must have bragged about it he ████ upz I feel like how like if your if your portfolio goes up a million something like how would people get after you unless you were bragging or was it two bll I don't know like two 47,000 shares crazy that like they expect people to really just not hear about these things happening when they're whoever handled the transaction for him bragged about it like at his word I guess I guess it's up to them for them to like if they decided thatc wanted to investigate you they could probably pin a lot oh for sure they could probably make the case of like oh yeah yeah they could do the way around too where they don't pin it on you because you work in the political sphere
2:34 yeah like Pelosi Capital dude it just so happens that all of her husband's trades she's just lucky yeah just leak up with all of the ████ she's involved in it also depends on how sophisticated the m& is sometimes it is completely compartmentalized so like let's say this uh CPA needs to Crunch these numbers there's no like header on the paperwork it's not like hey this is from this company it's just like we need you to look at 2022 2021 or don't even know who it is often times those if it's a public traded company though often times that's already an in-house department so they might be they might know but they might be legally compartmentalized as well because it's a public traded company that means it's probably like a building that has hella floors already anyway and literally only the people that are working on that m&a are are privy to that knowledge those people all go home to families and friends and that's where
3:24 I'm like something 100% And occupying your 100% of your mind and you can't nobody you do tell somebody to take action is a whole different thing for that person to actually ████ buy and then dump stock like where they acquire millions and you're legally connected to that person you know what I'm saying cuz the scarier ████ is they should have just done like a $1,000 no one the scarier ████ are like the like people special ops Community right they have crazy stories they need to let out some steam but the first thing they tell you is don't tell your spouse cuz if they get ████ kidnapped they're in danger if they know your secrets so imagine you come home from a mission and you're like I got to ████ tell you something cuz it's ████ crazy but I don't want to put your life in danger that's why you tell the priest in the
4:14 Box wait so what's the protocol then for special ops to like release I don't there has to be something for that righta or something I don't know mushrooms that sh kind of but it's like it's like being a lawyer right like when there's a certain type of confidential yeah so it's like there's a legal case against you if you if you say it you know what I mean so it's like the second cuz it's often lawyers who handle m&as because it's legal work it's all contract work that you're going through you know what I mean so the second the lawyer is involved or the manager of the m&a is involved they literally are legally bound to not be able to tell anybody otherwise they are ████ just the fact that they have to create the SEC to combat something that frequently happens so much tells you there's a s███████ of them that are getting away with it oh yeah that's where I'm like how it's impossible to me that like no one said
5:04 anything at any m&a and then even in this situation the SEC Alle feel everything dude the alleged that this guy took advantage of his wife so maybe the timing was just too tight like he got in too early and got out like a little early too like or just right after yeah it was too perfect of a of a trade and it's like this guy just how the ████ would you know but your wife's also working on it and he bought his wife probably a new Range Rover and she drove the next day that's that's a story line in the show billions have you ever seen that show yeah so in billions that happens where like she didn't want her dude to know but he found that anyway and then that whole ████ went to the the exact same thing so it must be like a really frequently occurring thing cuz like sometimes they aren't telling anybody and then they do found out you got to work for Congress or politics and
5:54 you'll be okay like get dude you're all good OSI capital is the best 2 million in one year that's ████ crazy just off Investments and what's her salary supposed to be like 200 Grand 200 Grand dude you everybody knows that that's some ████ but she's protected by the politics so this guy eventually confesses to his wife uh cuz he didn't deny the allegations by the SEC he confessed to his wife about buying and selling the stock he reportedly said that he made the illegal move so that she would not have to work long hours at her job he's so sweet she sound like she has a pretty good job though yeah she reported her husband's activity to uh to BP I guess that's a the that's not a healthy marriage it's funny cuz like yeah bad and then she was later fired well then now she's not working long hours thanks to you the company so it
6:44 worked out yeah despite the company finding no evidence of wrongdoing on her end but she was still fired anyway for it well that actually means a lot that the company was able to say that it was because of eeve dropping that they actually believe that well SEC alleged it and then he didn't deny allegations so what if he just denied he would have gotten away with it a that's all you got to do just be like I didn't do that you're like all right it was P luck I just bought a th000 shares of this pure luck like damn it he denied it 42,000 shares yeah dude and he has nothing else and he has no investment history whatsoever like $ of Home Depot and he sells weed yeah he's like yeah I'm just that guy yeah that's hard dude but do um does anybody know if you're a manager of an m&a is it do you get a
7:35 percentage as as a commission or is it just like if you're the broker if you're a broker part of the deal you'll get a percentage but I don't know what they're playing cuz there's like so much staff especially at a big level like that there's so much staff part of the the whole thing yeah there's the sell side there's the buy side there's the integration side there's people doing the underwriting like there's a whole that's what makes it sound even more leaky to me like it might be a big company it could be a small firm bro for real there could be like 30 people on it but at the same time when you're doing an m&a for something like so major a company's buying out another major corporation or some ████ that's like hundreds of millions of dollars even for you to get 1% of that that's like you don't even need to ████ leak anything you just need to get the job done right and you're going to get your payday that's true yeah like investment Bakers are the ones doing the underwriting they only take 1% because all their deals are 10 million plus so they're set which is
8:26 pretty kind of cool meanwhile we were doing stupid YouTube videos hey is that what Martha Stewart got nailed for really insider trading I think so she went to jail for that yeah they got her if I'm going to go to jail for anything it's probably going to be inside of trading she was out what year and a half not privy enough for that stuff you know what I mean that's true is the and she made friends with Snoop dogs because she was like Hood after she kind of blew up after that yeah yeah it was kind of good marketing she got some street cred dude imagine if you went to jail for like a year like half a year but like house arrest that'd be pretty cool that'd be good for your brand I think she was in she was in white colar jail right right yeah like where you used to like play golf or whatever the ████ golf yeah she did you can also just wear whatever too or some sh mattress they got a par four in the middle of the yard aerta mattress have you seen those Norwegian GS the high security Norwegian
9:17 jails better Apartments than people with a yo they're living chill at AC bro Norwegian ████ jail like the photo high security they're like dressed normal it looks like like the comments are like this just looks like a rehab they got a window they got like sweet books you know yeah truly there's like just ping pong tables like their room is Chill decorated you know what I mean come on they got Edison bulbs and ████ Edison bulbs is like norweg or Swedish one of those yeah this looks like a room in Ikea yeah dude that's their cell that looked like a s but there's some other photos that show like they like have like decorations in their rooms and ████ ████ aoft or whatever alof this it it's like that's similar to the photos I seen you but it's just like it's just their ████ room like a
10:07 dorm that's T watch they're getting beat every minute it's psychological torture that you just think you're in a nice place I wish I got some secrets that I could invest on that'll be tight I wish I wish I had an enemy that I could do that too you like a popped be like like you could plant hey bro like put some money on this blah blah blah blah blah and then when they they investigate oh dude he I was saying it to someone else he heard me and they get arrested for insider trading yeah yeah a PO I mean let's be real if you caught wind of something that was credible enough would you get down on it of course it sounds like he just didn't deny it enough cuz it's that's what I'm really hung up on I think I would brainstorm a little bit on
10:58 how to get around it in a way where I can't be directly tied to it so you know how they always say like if something pops off the things that actually pop off are the industry you know like when like UFC popped off like think about how much the sponsors like medel or whatever makes so if you go directly into it then you might get connected but if there's other things that could so you won't make as much you won't hit the Peaks but you can kind of like like assimilate into the earnings of the other things around it Oh I thought you were going to talk about being like if I'm him I'm calling like all my cousins and my nephews and stuff and being like everybody just buy like 1,000 shares cuz then it's like if if everybody makes like 20 grand I don't
11:49 think the sec's and there like 15 different people that's not exactly the same play as one dude who is the husband of the person you know making ████ 1.76 million or what whatever you know but then there's that one cousin who's going to ████ it up for everyone that's true the cousin yeah exactly Nick you you made me think of something pretty genius and I it's an amendment to the Constitution I think it'd be really cool what's the Constitution what the um I just kep mad at you the um that would be sick if when you get found guilty of a crime you get to go to the judge and be like hey but like how could I have gotten away with it though what should I have done they give me the have to tell you you should have just Den nighted a little more you walk up like ████ okay okay you got me like don't tell anybody else yeah yeah that's
12:40 a sick ass thing if you get to know and it gets harder and [Music] harder [Music]
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