Comment by umbra07
3 months ago
He went to jail because he refused to help the NSA violate FISA, and then he sold the stock knowing that his refusal would cause the stock to drop (i.e. insider trading). His conviction was entirely on the basis of insider trading. The SEC went after him, not the NSA or DOJ or whatever.
> His conviction was entirely on the basis of insider trading. The SEC went after him, not the NSA or DOJ or whatever.
The SEC has no criminal prosecution powers; all they can do in that regard is write a note asking the DOJ to pretty-please look into something. The only way to get a federal (civilian) criminal conviction is to have the DOJ go after you.
> His conviction was entirely on the basis of insider trading.
Insider trading charges are to high-flying executive-types as "Based on my training and experience, I detected the distinct odor of cannabis on the suspect's person" is to folks who are committing the crime of walking while black near an officer with something to prove.
Seriously, these regs are very, very vague and open-ended, and a ton of deference is given to the SEC.