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posted by CoolHand on Sunday August 02 2015, @03:32AM   Printer-friendly
from the crime-doesn't-pay dept.

A senior IT professional who was a trusted employee of a top Silicon Valley law firm is headed to prison.

Dimitry Braverman was arrested last year at his home in San Mateo, California. The 42-year-old man was accused of loading up on stocks and options for companies he knew had mergers or other major transactions on the way, because he had access to confidential information at the law firm he worked at, Wilson Sonsini Goodrich and Rosati.

Braverman, who made $305,000 in profits off the illegal transactions, pled guilty in November. The companies he traded on included retailer Gymboree, Drugstore.com, Epicor Software, Seagate Technology, software firm Dealertrack Technologies, storage company Xyratex, and pharmaceutical companies YM Biosciences and Astex Pharmaceuticals.

Aristotle Onassis made his first real money listening in on phone calls while he worked as a switchboard operator in Argentina. He went on to marry Jackie Kennedy.


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  • (Score: 5, Interesting) by hemocyanin on Sunday August 02 2015, @05:46AM

    by hemocyanin (186) on Sunday August 02 2015, @05:46AM (#216945) Journal

    After decades of insider trading, Congress passed the STOCK act to sorta reign in the practice, though of course they weakened it as much as humanely possible before passing it: http://www.huffingtonpost.com/michael-winship/congress-takes-a-step-or_b_1379429.html [huffingtonpost.com]

    If that wasn't enough, a year later it gets even weaker: http://www.huffingtonpost.com/2013/04/17/stock-act-change-insider-trading_n_3100115.html [huffingtonpost.com]

    And currently, "Congress Tells Court That Congress Can't Be Investigated for Insider Trading": https://firstlook.org/theintercept/2015/05/07/congress-argues-cant-investigated-insider-trading/ [firstlook.org]

    So, pass weak law, then make it weaker, and then declare yourself immune from that wussy law. Congress knows it's shit.

    On the other hand, if you're some low level dude far from the halls of power, you get Federal prison time.

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  • (Score: 2, Troll) by aristarchus on Sunday August 02 2015, @08:34AM

    by aristarchus (2645) on Sunday August 02 2015, @08:34AM (#216964) Journal

    That's what they're doing, alright!

    reign in the practice

    Yes, let us reign with this practice! We will reign like kings, since we are reigning!

    [Grammar Nazi tip: there are many words in English that sound the same, but are spelled differently. These are called "homophones". It is the mark of a literate person to not confuse these. Here we have an instance of reign for rein (and we will skip the not mentioned "rain"). One means to rule, as a monarch, the other means to control, as do the reins attached to a bit on a bridle in order to stop or restrain a horse, which was the intended sense here. And while we are at it, let's practice with a few more! Brake is what brakes do, on a cart, sled, railroad car, or automobile; "break" is what happens to you automobile when the brakes break. And on this web site we should not have to cite the difference between these two senses and a vision, as in "sight".

    I recommend http://public.wsu.edu/~brians/errors/errors.html [wsu.edu] for when you are not sure whether it be more noble to bear or bare arms in different weather, There is quite a list of confusions between homophones, one of my favorite (but slightly obscure) is the difference between "bated" and "baited", especially in regard to breath. ]

    • (Score: 1, Touché) by Anonymous Coward on Sunday August 02 2015, @10:41AM

      by Anonymous Coward on Sunday August 02 2015, @10:41AM (#216976)

      You really should have cited a site on sight, just to be complete.

    • (Score: 4, Touché) by Phoenix666 on Sunday August 02 2015, @11:57AM

      by Phoenix666 (552) on Sunday August 02 2015, @11:57AM (#216983) Journal

      "break" is what happens to you automobile when the brakes break.

      Sorry, man, but you fell victim to one of the classic blunders - The most famous of which is "never get involved in a land war in Asia" - but only slightly less well-known is this: "As soon as you go grammar nazi on the internet, you will be hoisted on your own petard."

      It's:

      "break" is what happens to your automobile when the brakes break.

      --
      Washington DC delenda est.
      • (Score: 2) by aristarchus on Sunday August 02 2015, @10:23PM

        by aristarchus (2645) on Sunday August 02 2015, @10:23PM (#217130) Journal

        Or alternatively, "what happens to you and your automobile"? it's possible. Never can tell what a grammar nazi is intending to write, since they are using grammar and words correctly. And I am always in favor of hoisting petards! But isn't the phrase "by your own petard"?

    • (Score: 2) by hemocyanin on Monday August 03 2015, @01:46AM

      by hemocyanin (186) on Monday August 03 2015, @01:46AM (#217180) Journal

      Amusingly, Congress actually does reign while practicing insider trading.