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Thursday, November 24, 2005

All Roads Lead Back to Business Week

Trust me when I tell you that almost nothing would prompt me to blog from home, on Thanksgiving Day, but how can I possibly resist posting about this development in the Sonja Anticevic case that ties together about 10 past posts?  Answer--I can't.

Remember the trader who followed my handy 5-point plan to getting oneself sued by the SEC by, among other things, buying massive quantities of out-of-the money call options in advance of the Reebok merger? 

And remember how the trading wound up being in the account of a 63-year-old Croatian woman named Sonja Anticevic, a retired tailor/cleaning lady living on a monthly pension of 1,600 kuna ($263) who claimed she had  "never bought a stock and I have no idea how that works" (which prompted speculation that just maybe Anticevic's 25-year-old nephew, a broker in New York, may have played some role....)?

Well, according to this article, the FBI has now arrested David Pajcin, Anticevic's nephew, and accused him of insider trading.  Yes, you say, we all saw that coming.  So what?  Why post this on Thanksgiving, Carton? 

Well, let me ask you--did you see this coming?  According to the article, Pajcin is accused of committing insider trading by  "obtaining advance access to Business Week's Inside Wall Street column and buying 10 separate stocks ahead of the column's publication."

That's right.  Trading on advance copies of Business Week--the doomed insider trading scheme that I have blogged about since August 2003.  The "legendarily unsuccessful" tactic that I listed as #1 on my original "Do Not Use" list for securities fraudsters, and which I most recently labeled the "gold standard of what not to do."  It's back again, when and where I least expected it. 

Now if we just can find some way to link all of this up with the Estonian "spider" hackers....

Happy Thanksgiving to all.

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