I'm sure everyone has already heard about Mark Cuban and how he possibly faces SEC charges and jail-time. He saved himself $750,000 by selling his Internet-search firm Mamma.com shares because of information he promised to keep confidential. Mamma.com's Chief Executive, Guy Faure, called Cuban saying he "had confidential information" for him. Yet, Cuban posted an email of the transcript where Faure acknowledges that Cuban didn't explicitly agree to keep the content of their conversation confidential.
I heard on the radio that Cuban could face the same charges as Martha Stewart with insider trading. However, Stewart lied to the Federal Grand Jury that caused her prison time. Cuban has yet to be questioned by the Federal Grand Jury. At this point, it is more of a civil case than a criminal case. He is in the position to be fined substantially, but without jail-time if he plays his cards right. His fate is in his own hands.
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5 comments:
This doesn't suprise me, Cuban seems completely capable and has always come across as the shallowest prick who cowards sbehind his money. But then again, you can expect too much from a Mav. lol
I think this goes to show you that people care to much about their money instead of the law. Your worth 2 billion Cuban, just pay it back. And even with the 2 billion he still cant buy talent.
I agree with Blake. Cuban just plain annoys me. I think he deserves jail time and obviously to pay back the money that he earned from this tip-off. He needs to obey the law just as everyone else does and should.
I agree with everyone. Cuban is a bit annoying and I heard he would be facing jail time like Martha Stewart. It's frusterating to see these people with all this money, more than all this money, and still be decieving and shallow and try to cheat. This is what the corporate world has come to, come on America.
I just think it's dumb on Cubans part to even risk getting into trouble for any amount of money. He's already worth billions and the owner of an NBA franchise, he should've of thought this one out a little more. I'm not a big fan of Cuban anyways so he should get what he deserves.
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