For those who don't know... Insider trading occurs when someone with access to confidential information about a company uses that knowledge to trade its stock. This information could include: • Earnings reports • New product launches • Details of an acquisition

Let's look at some of the most famous Insider Trading Scandals ever: 1. Martha Stewart (2001) Martha Stewart, the queen of homemaking and a successful businesswoman, found herself at the center of an insider trading scandal in 2001.

Stewart sold nearly 4,000 shares of ImClone Systems stock just before the FDA publicly rejected one of the company’s key drugs, causing the stock price to crash. It was later revealed that Stewart’s stockbroker had tipped her off about the FDA decision.

2. Raj Rajaratnam (2009) Raj Rajaratnam, the billionaire hedge fund manager of the Galleon Group. Rajaratnam was at the center of a vast network of tipsters, including corporate executives, bankers, and consultants, who provided him with insider information

Rajaratnam used these tips to make hundreds of millions of dollars in illegal trade. One of the key pieces of information he received was about Intel and Google earnings before they were released to the public. The SEC uncovered the scheme through wiretaps.

3. Nancy Pelosi Nancy Pelosi and her husband, Paul Pelosi, trade stocks in companies that Congress regulates. While not charged with a crime, Pelosi’s trades show that lawmakers are allowed to buy and sell stocks even when they shape the laws that affect those very companies.

4. Ivan Boesky (1986) Ivan Boesky became infamous for his role in one of the 1980s’ most notorious insider trading scandals. Boesky made millions by trading on insider information about upcoming mergers and acquisitions, which he acquired through a network of informants.

5. Steven A. Cohen (2013) Steven A. Cohen, founder of SAC Capital Advisors, a prominent hedge fund, was accused of insider trading after several of his top employees were caught using non-public information to trade stocks.

While Cohen was never personally charged, SAC Capital Advisors pleaded guilty to insider trading charges and paid a record $1.8 billion fine to the SEC. This case raised eyebrows because of Cohen’s indirect involvement and the aggressive pursuit by regulators.

That's a wrap! Thank you for reading...

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