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Always do a federal crime

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Elliott

Thread Starter
Elite Member
Joined
Apr 23, 2002
Professional Status
Certified General Appraiser
State
Oregon
I use to have a list of the top ten advices from experts.
One was from a stock car driver who said if you see an
accident in front of you always aim for it, because it will
probably not be there by the time you get there.

The other one I remember was, "Do a federal crime, because
federal judges are more worldly and are more sympathetic to
white collar crime.

In today's WSJ, Peter Lynch of Fidelity Investments fame, who
had one of the best track records in the industry....got nabed
in 'gift-gate' where mutual fund people get caught taking gifts
from the companies they are suppose to be objectively buying
and selling for their mutual fund (they are suppose to be more
concerned with the investors money).

Anyway, Lynch accepted 61 tickets, 14 3-day tickets to the
Ryder Cup, and a U2 Concert. Total value $15,948.

So the SEC investigates and Fidelity agrees, without admitting or
denying wrong doing, to pay an $8 million penalty. I wonder how
much Lynch will pay and wonder if the stock holders will be the
one who really pick up the penalty? And he still will have a
'clean record.'

Always do a federal crime.
 

Mountain Man

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
Georgia
Yeah, that sounds about right.
 

Tudor

Member
Joined
Aug 15, 2006
Professional Status
Certified Residential Appraiser
State
Arizona
Isn't that what appraisers commit when they sign the certification "did inspect" when they actually "didn't"?
 
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