Originally posted by rebel1
So much corruption on our sharemarket blatant, I know of a director that sold millions of shares in his company , and 2 days later a release came out that drilling un successful. He knew the results of 2 of the 3 holes... then the share dropped 60% in value..
This director makes $8000 from a trade on info he heard at a luncheon, not known to the market and gets 9 months jail.
What the story high lights is that people DO KNOW info way before general market does,He made the mistake of buying in his name, and not getting a mate (Not by text etc) to buy.... how often do we see shares run up or get sold down before announcements . Yet its an even playing field ..
https://thewest.com.au/business/lun...o-convicted-of-insider-trading-ng-b881101363z
We had an inquiry into the banks, it would be interesting to see one held for the stock market, every single one of us could highlight shonky activity before good or bad news,
With the banks so heavily into share trading, didn't the Royal Commission have anything to say about blatant manipulation by them on the ASX and the sharemarket in general? That would amaze me.....
