Why is the SEC playing double standard?
April 12th, 2010 | by admin |Mercedes Benz will get away with a fine for practicing worldwide bribery (http://www.worldcarfans.com/110032425281/daimler-charged-in-us-for-paying-bribes—fined-185).
Then why isn’t the Galleon fund permitted this option too ?! Is insider trading a heinous crime requiring harsh jail sentence but bribery isn’t ? I am completely appaled by this country and its hypocrite practises. The management of Mercedes is excluded from criminal charges or has some sort of immunity ? What about the strong governance messages issued by the government back in 2003 after the worldcom and eron scandals that this type of activity will not be tolerated anymore.
Shame on you SEC and department of Justice for being bribed by Mercedes too.
The Mercedes Benz fine is from a U.S. District court, for violations of the U.S. Foreign Corrupt Practices Act. It was a criminal probe.
The SEC is not involved, so the case is not comparable to Galleon.
2 Responses to “Why is the SEC playing double standard?”
By Jerry C on Apr 12, 2010 | Reply
The Mercedes Benz fine is from a U.S. District court, for violations of the U.S. Foreign Corrupt Practices Act. It was a criminal probe.
The SEC is not involved, so the case is not comparable to Galleon.
References :
Washington Post story
By b2fnow on Apr 12, 2010 | Reply
There is NOTHING to gain from discovering lies and corporate fraud in a world that is based upon a lie. So, with that in mind, go long corrupt organizations with great vigor, for “whoever can lie the best shall benefit the most” (Book of Goldman, verse 23).
References :