2 Fromer UBC Executives Plead Guilty to Insider Trading

2 Fromer UBC Executives Plead Guilty to Insider Trading -...

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Phillip Epstein CU Student ID : 810657970 REC: 113 Professor: Kevin McMahon 2 Fromer UBC Executives Plead Guilty to Insider Trading A former executive of UBS Mitchel Guttenberg who sold private information about the company to a trader David Tavdy of Assent pleaded guilty Wednesday Febuary 27 th to charges of insider trading. The two were among the 13 people (some of which were employees of Bank of America, Morgan Stanley and Bear Stearns) who were convicted Monday of insider trading making over $17.5 million. Guttenberg pleaded guilty to two counts of conspiracy and four counts of securities fraud. This is another example where ranking corporate executives commit crimes resulting in consequences. These mentalities were also spread to the employees of several other firms which caused corruption among employees. It goes to show how the actions of one executive or one company can affect the actions of another negatively. In my opinion corruption breeds corruption. Employees model themselves after
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Unformatted text preview: their leadership in a corporate environment and if the highest management lacks morality employees follow the example as in the case of the insider trading of the many employees who followed the actions of Mitchel Guttenberg. You can also see how employees of other firms were affected. In situations where corruption occurs I feel like it spreads like a virus affecting all that come into contact with it. It is these kind of corporate practices that cause issues like Enron to occur. I would never want to work for a corporation that such corruption is present. Nor would I Phillip Epstein CU Student ID : 810657970 REC: 113 Professor: Kevin McMahon want to invest in such a corporation. Such corruption can lead to a directly negative effect on the companies bottom-line Sorkin, A. R. (n.d.). 2 Plead Guilty to Insider Trading. The New York Times . Retrieved February 27, 2008, from http://dealbook.blogs.nytimes.com/2008/02/ 28/2-plead-guilty-for-insider-trading/...
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This note was uploaded on 04/18/2008 for the course BCOR 1010 taught by Professor Latier,jef during the Spring '07 term at Colorado.

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2 Fromer UBC Executives Plead Guilty to Insider Trading -...

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