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Yeah, but he has millions of shares he paid nothing for.
He's going to be the only one who doesn't lose money, because he paid nothing for his stock.
Even if it's $0.01 the day he can sell, it's all profit.
Someone has to buy the stock that he sells. It doesn't magically turn into money cause it has a listed value that day.
Sure, there can be some money laundering and foreign "investments" but the SEC really doesn't like stock manipulation.
The SEC doesn't do jack shit about anything. The SEC are toothless pretend watchdogs created by and staffed by former stock marketers who exist for the sole purpose of making the public think there is oversight and accountability.
It is the stock market version of the police's internal affairs.
Tell that to Martha Stewart and Elon Musk.
SEC isn't a savior, but they do enforce the law when it's blatant.
Martha Stewart's case was two decades ago. How many people have served jail time for fraud based on the SEC since then?
Musk got the regular slap on the wrist pretend punishment that the SEC does to appear legitimate. He also continues to openly manipulate stocks with no further accountability.
are you just assuming zero, or do you actually keep up with this stuff?
just a brief search led me to these which were all published literally yesterday:
https://www.reuters.com/legal/government/sec-widens-insider-trading-case-involving-stolen-law-firm-ma-info-2024-09-10/
https://money.usnews.com/investing/news/articles/2024-09-10/convicted-nikola-founder-milton-owes-electric-truck-maker-168-million-judge-rules
https://wchstv.com/news/local/im-teddy-f-miller-boasts-influencer-now-jailed-for-fraud
I don't assume it is zero, but I assume it is far fewer than it should be since Musk has been openly manipulating the market without any punishment for years.
then just say that rather than asking "how many" because apparently no number would be high enough to meet your standard.
I'm sorry I might have hurt the SEC's feelings. Will you ever forgive me?
Good ol' Lemmy maturity.