Tens of millions were spent on these insider-trading cases where, as mentioned above, there were no known victims (until now).
He has had legal troubles before: a hacking conviction in 2008 and an insider-trading conviction in 2002.
On Friday, hedge fund trader Michael Steinberg was sentenced to 3.5 years in jail for his insider-trading conviction.
All four had experience in the fascinating domino effect that happens in insider-trading rings as criminals turn on each other.
Yet insider-trading laws do not apply to what many members of Congress have done.
The unlawful practice of using information that comes from a source “inside” the business but is not available to the general public to trade on the stock market. This activity is prohibited by law and is policed by the Securities and Exchange Commission.
Note: In the mid-1980s, several revelations of insider trading rocked Wall Street.