Those of you that had me in the Spring 2012 semester are familiar with the case of Garrett Bauer, who pled guilty to insider trading. He was sentenced yesterday to nine years in a federal prison. Here is an interesting article talking about the case.
What is your reaction to his sentence?
4 Comments
Katerina Papatheodorou posted on June 6, 2012 at 11:53 am
I see a book deal coming soon!!!
Sarah Hu posted on June 7, 2012 at 11:57 am
It’s quite sad. He is clearly talented, amassing those fortunes. From the skype call-in, the illegal trades did not make that much money.
9 years of his life and all his savings taken…
Who gets to keep the money anyway? $21 million..
Nick Li posted on June 18, 2012 at 1:30 am
The part about being active in charities and stuff…I don’t buy into him being a good person. He was probably doing this to lessen his guilty conscience about breaking the law. Now, if we could dig up his past and find out if he was doing this prior to inside trading, that would be another story.
Peter H posted on June 24, 2012 at 10:35 pm
I feel really bad for Garrett. After hearing the live broadcast from class, I get the feeling that he is extremely remorseful for what he did. The poor guy just executed the trades for the other people which somewhat lessens his role in my opinion. For him to be given 9 years in federal prison for this seems a little high for me. And once he gets out, he pretty much has no way of ever making any money again and on top of that, he owes a lot of money. In my opinion, I feel like the government knows that a lot of insider trading goes on daily and this is their way of cracking down on it: showing that the potential ramifications are much greater than any monetary rewards.