Who cares about this one lone guy and his punishment?<p>Why is Equifax still around.. we have no say or opt in system to allow them to use our personal data for their financial gain.<p>I didnt agree to this! Isn't there an Equifax competitor that lets you opt in and is all about security. If not one of their competitors needs to rebrand as such or such a competitor needs to enter the market and whoop their a#*!
> To settle the SEC’s civil charges, Bonthu has agreed to a permanent injunction and to return his allegedly ill-gotten gains plus interest.<p>It doesn't seem very dissuasive to only have to return the ill-gotten gains for insider trading, as it makes the returns of such trading positive if not all insider traders are caught.
I would like to see sentencing (probationary or prison) for financial crimes correspond to the amount of time it would take the median American to earn the amount of illicit proceeds.<p>So if someone makes $5M illegally their penalty would be 5x greater than that of someone that made $1M illegally and both would vary in proportion to how many years of someone's life that represents.
This sounds like he was thrown under the bus, probably to distract the SEC from investigating the executives who allowed corrupt business practices to continue.
I'm flabbergasted by how miniscule his investment was. 3500% return on $2k. Did he think it was too small to fly under the radar? Or is he small enough to prosecute?
I haven’t looked in a while so please correct me if I am wrong. But wasn’t there a report that the CTO did the same thing but was cleared? This seems like a much lower level manager.
This low level guy gets punished, but the C level executives who let the system get so shoddy it resulted in the massive breach, they get nothing but a slap on their wrists.
How is it that one guy can be punished for insider trading, yet the executives responsible for exposing the business to one of the largest data breaches in history get off with just a slap on the wrist.<p>Ignorance or negligence behavior when it comes to implementing and maintaining cyber security controls over PPI is not good enough, and the culture needs to change.
> Bonthu sold the put options and netted more than $75,000, a return of more than 3,500 percent on his initial investment.<p>who doesn't love options am I right?<p>any other delta or gamma chasers here