The Disease of Insider Trading

Insider trading case could push congress to define a murky world

The New York Times

Almost every judicial opinion instantly becomes fodder for second-guessing by all affected parties. The winner typically extols the virtues of the court’s analysis, while the loser attacks the judge’s reasoning as flawed to the point of leading to catastrophic consequences.

Those views are on full display in the fight over the opinion of the United States Court of Appeals for the Second Circuit in Manhattan in United States v. Newman. This was the landmark ruling late last December that overturned the insider trading convictions of the hedge fund managers Todd Newman and Anthony Chiasson and raised questions about whether the government had overreached its authority in such cases. If the appeals court lets the decision stand, the question is whether Congress might step in to clarify the scope of insider trading law.

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Did InTuit Management Place Profits Before Ethics?

TurboTax’s anti-fraud efforts under scrutiny


Two former security employees at Intuit — the makers of the popular tax preparation software and service TurboTax – allege that the company has made millions of dollars knowingly processing state and federal tax refunds filed by cybercriminals. 

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Tax Fraud Now at the State Level

The rise in state tax refund fraud


Scam artists stole billions of dollars last year from the U.S. Treasury by filing phony federal tax refund requests on millions of Americans. But as Uncle Sam has made this type of fraud harder for thieves to profit from, the crooks have massively shifted their focus to conducting refund fraud at the state level. 

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Security Failures and the People Responsible

Why everyone's to blame for identity theft


The other day a reporter asked me who’s to blame for the growing epidemic of identity-related tax fraud. I almost replied, “the government and the bad guys,” but I caught myself before committing to that inaccuracy. “We’re all to blame,” I said. 

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