Why didn't the Wongs buy options?

I think the SEC is going to make them come to the US to defend themself if they ever want to see their money again.

 

By Eric Dash and Andrew Ross Sorkin
May 10, 2007


FEDERAL regulators are expected to examine the role of a Dow Jones director in the possible leak of confidential information to a Hong Kong couple, who were accused yesterday of making millions of dollars from insider trading shortly before news of Rupert Murdoch's takeover offer.


http://www.smh.com.au/news/business/insider-trading-investigation/2007/05/09/1178390393914.html

 

To answer the question posed by the thread,

"Because buying options when holding material inside information would be the Wong thing to do".

Maybe they should change their names to "Stupid".

 

Puntastic!

 

I'm sure this is just the "tip" of the iceberg

Ouch.

 

Classic....Nice....Very Nice!

 

somone said, "chow mein honey?"

unfortunately, they heard dow made money!

 

M&A, LBOs and insider trading.

It's the 80's all over again. Move over Ivan Boesky you got a new cell mate.

 

The order almost never went through because the broker got the ticket and yelled into the Squawk "We have a Wong order for 100,000 shares of Dow!"

For a few minutes everyone thought the broker was just calling out a mistake.....

More confusion was caused when the floor manager answered back "What is Wong with it?

- Nothing is Wong with it?

--But you said it is a Wong order right?

- Yes it is.

-- Then what is Wong, the buyer or the share amount?

- The share amount is 100,000 and the buyer's name is Wong

-- Ok I see now, so the buyer's name is Wong?

- Yes

-- Well then what is the buyer's name?

- No not What, the buyer's name is Wong.

-- Ok, look.. you have a buyer?

- Yes

-- and the buyer's name is...?

- Wong

-- How do you know it is Wong?

- Caused I read it Wong on the ticket?

-- Why did you read it Wong on the ticket?

- cause it was written Wong.

-- Well if it is written Wong you must know who is the right name?

- No! Not Hu... Wong.

-- Hu is Wong?

- Yes, Hu is Wong, Wong is Right.

-- You're fired....

 

Stupid question, but can the us criminally charge a non citizen for breaking us laws when not on us soil? Hypothetically, what if the stock was bought on a foreign exchange? (Don't know if they were or not?) Only connection to the us would be the broker.