My daily subway customer might’ve committed insider trading
I think my daily subway customer might have committed insider trading
My daily subway customer is a web developer at a small agency and one of his clients is a publicly traded company, his contact at the company is their social media manager. She always gave him blog posts, content and press releases to put up on their site a few days ahead of time. This time she gave him a press release that he knew would have a negative effect on the companies stock, but she gave it to him about a week ahead of time. He bought a lot of puts on the company (since wsb is retarded let me explain, that means he is betting on the stock losing value), and this is where he and I are worried because when I say a lot, I mean he was reckless.
He made an absolute killing on these puts because the stock tanked like he knew it would…
Just to clarify, my daily subway customer is an hourly employee and has not signed any paperwork regarding information shared with him by clients. He kept copies of everything he has signed and nothing in any of the paperwork mentions any sort of situation even close to this one. He tells me he knows this does not relinquish him from any potential Federal laws he has broken, but I'm just clarifying that he hasn't broken any company specific rules.
Is there anyway for him to get in trouble here? Nobody in his personal life knows about this. Is what he has done illegal? If he is somehow caught, will they search his home and then the find the corpse of his murdered stepmom that was murdered a week ago? Surely he can just plead ignorance and say that he never looked at anything they sent him, he just put it up on the site? Just very nervous about this situation… Mainly because of his stepmoms murder/corpse…
Submitted August 01, 2022 at 12:59PM by GalacticDogeV2
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