Manwin About To Take Yet Another Bite In The Ass! Will It Never End? - GoFuckYourself.com

AdultPornMasta · 12-12-2012, 08:30 PM

http://www.dailyfinance.com/2012/12/...saolp00000058&

"Insider Trading at Playboy: The SEC Case Against Christie Hefner's Husband Revealed!"

"Christie Hefner, daughter of Hugh Hefner, was CEO of Playboy Enterprises for two decades, from the late 1980s to the dawn of the Obama era. And for several of those years, her husband was secretly trading Playboy stock based on inside information he gleaned from their relationship. A new report by Bloomberg, based on official transcripts obtained through a Freedom of Information Act request, reveals the details of the case for the first time.

Hefner and William Marovitz had been married for 15 years when he told her, in March 2010, that he was under investigation by the Securities and Exchange Commission for insider trading. According to Hefner's account, given in interviews with the SEC, she had no idea that Marovitz had ever purchased any Playboy shares -- something she says she had warned him against doing. In 1998, she had even had Playboy's general counsel, Howard Shapiro, draft a memo explaining to Marovitz why buying Playboy stock would be such a bad idea: "all SEC rules regarding Christie's sale or purchase of stock are equally applicable to you, particularly the rules governing insider trading ... your purchase is imputed to Christie."

"Give me a call and I'll walk you through the legal minefield," Shaprio advised. The SEC says Marovitz did not comply.

What enabled Marovitz to put his money into Playboy, despite Hefner's opposition, was the fact that the couple kept separate brokerage accounts. On April 15, 2004, Marovitz bought 5,000 shares of Playboy ahead of an announcement that the company would issue new stock to pay down debt, which was likely to lift the share price. On April 21, the day of the offering, Playboy spiked by 8 percent, netting Marovitz $2,806.

It was a small beginning, but Marovitz repeated the offense, taking advantage of non-public knowledge about such things as an at-that-point-unannounced large quarterly loss, that his wife naturally expected him to keep confidential. After a pair of particularly egregious trades in late 2009, exploiting the possibility of an acquisition of Playboy by Iconix Brand Group, (ICON), an SEC attorney told Marovitz that he was under investigation; a routine examination of his brokerage firm, Mesirow Financial, reportedly alerted the SEC.

Hefner initially supported her husband, a former Illinois state senator and real estate developer who had collaborated with the Playboy CEO on a Greek casino project before they were married. The couple retained a joint attorney to represent them in the matter. But when Hefner was herself subpoenaed, she hired a lawyer of her own, and denied any knowledge of her husband's actions.

"Over five years of alleged financial infidelity," Bloomberg sums up, "the SEC calculated that Marovitz gained, or avoided losses, of $100,952." The SEC officially sued Marovitz on Aug. 3, 2011, and he agreed to pay $168,352 "in disgorgement, prejudgement interest and civil penalties," according to an SEC spokesperson, without admitting wrongdoing.

Hefner and Marovitz, once described by The New York Times as "a Chicago power couple," are currently separated.

One puzzling question is why such a well-to-do person would engage in such reckless behavior for relatively minor rewards that he manifestly did not need. But the gratuitousness of the criminal behavior has long been a hallmark of insider trading cases, from Michael Milken in the 1980s to Raj Rajaratnam and Rajat Gupta in the past few years. (And the hugely wealthy Martha Stewart, who went to prison over approximately $230,000.) The answer might be that this crime has historically been pretty easy to get away with, leading some on Wall Street to view it as just another way of making money. According to the Bloomberg report, the case against Marovitz is part of a recent government crackdown, "A spike in criminal convictions and SEC enforcement actions in the last five years [which] shows the U.S. government does not share that blasé attitude toward a crime that cheats other investors."

Some observers are skeptical. "Realistically," a recent consideration by TIME concludes, "10 years from now, we'll still be talking about the deterrent value of insider-trading investigations, as unscrupulous Wall Street actors continue to seek advantage over others by just about any means necessary." One securities lawyer has even suggested that the government give up the fight: Writing in Forbes, Bill Singer has argued that insider trading should simply be legalized, "so that the public gets the message, once and for all, that Wall Street is not a level playing field and that you must enter the casino knowing that some or all of the games of chance are fixed."

AllAboutCams · 12-12-2012, 08:37 PM

They got to make money somehow

AdultEUhost · 12-12-2012, 08:37 PM

That has zero to do with Manwin?

AsianDivaGirlsWebDude · 12-12-2012, 08:47 PM

Quote:

Originally Posted by AdultEUhost

That has zero to do with Manwin?

Par for the course with Sally Rand (Silly Rant)...oops, I mean AdultPornMasta.

ADG

mikesouth · 12-12-2012, 08:48 PM

Manwin bought Playboy TV not playboy enterprises that has nothing to do with manwin

AdultPornMasta · 12-12-2012, 08:48 PM

Quote:

Originally Posted by AdultEUhost

That has zero to do with Manwin?

Little behind the times I see!

http://www.thestreet.com/story/11212...usinesses.html

Shit rolls around my man!

AdultEUhost · 12-12-2012, 08:53 PM

Quote:

Originally Posted by AdultPornMasta

Little behind the times I see!

http://www.thestreet.com/story/11212...usinesses.html

Shit rolls around my man!

Link to the press release where Manwin announced that they acquired Playboy Enterprise Inc. ?
They didn't, they did a license deal

AdultPornMasta · 12-12-2012, 09:06 PM

Quote:

Originally Posted by AdultEUhost

Link to the press release where Manwin announced that they acquired Playboy Enterprise Inc. ?
They didn't, they did a license deal

Did not write that it did but shit has a way of moving around!

VenusBlogger · 12-12-2012, 09:16 PM

Quote:

Originally Posted by AsianDivaGirlsWebDude

Par for the course with Sally Rand (Silly Rant)...oops, I mean AdultPornMasta.

ADG

LOL WTF??? Is that "2intense" or "Killswitch" ?

epitome · 12-12-2012, 09:24 PM

LOL just as clueless as always.

AsianDivaGirlsWebDude · 12-12-2012, 09:55 PM

Silly Rant strikes (out) again...

Oh yeah, and too bad for Christie if she didn't know about her hubby's insider trading (if that's what it proves to be). They reportedly separated last year, so apparently there is going to be little love lost there.

ADG

AdultKing · 12-13-2012, 12:14 AM

https://gfy.com/showpost.php?p=17503899&postcount=8

12-12-2012, 08:30 PM	#1
AdultPornMasta Confirmed User Industry Role: Join Date: May 2012 Posts: 1,506	Manwin About To Take Yet Another Bite In The Ass! Will It Never End? http://www.dailyfinance.com/2012/12/...saolp00000058& "Insider Trading at Playboy: The SEC Case Against Christie Hefner's Husband Revealed!" "Christie Hefner, daughter of Hugh Hefner, was CEO of Playboy Enterprises for two decades, from the late 1980s to the dawn of the Obama era. And for several of those years, her husband was secretly trading Playboy stock based on inside information he gleaned from their relationship. A new report by Bloomberg, based on official transcripts obtained through a Freedom of Information Act request, reveals the details of the case for the first time. Hefner and William Marovitz had been married for 15 years when he told her, in March 2010, that he was under investigation by the Securities and Exchange Commission for insider trading. According to Hefner's account, given in interviews with the SEC, she had no idea that Marovitz had ever purchased any Playboy shares -- something she says she had warned him against doing. In 1998, she had even had Playboy's general counsel, Howard Shapiro, draft a memo explaining to Marovitz why buying Playboy stock would be such a bad idea: "all SEC rules regarding Christie's sale or purchase of stock are equally applicable to you, particularly the rules governing insider trading ... your purchase is imputed to Christie." "Give me a call and I'll walk you through the legal minefield," Shaprio advised. The SEC says Marovitz did not comply. What enabled Marovitz to put his money into Playboy, despite Hefner's opposition, was the fact that the couple kept separate brokerage accounts. On April 15, 2004, Marovitz bought 5,000 shares of Playboy ahead of an announcement that the company would issue new stock to pay down debt, which was likely to lift the share price. On April 21, the day of the offering, Playboy spiked by 8 percent, netting Marovitz $2,806. It was a small beginning, but Marovitz repeated the offense, taking advantage of non-public knowledge about such things as an at-that-point-unannounced large quarterly loss, that his wife naturally expected him to keep confidential. After a pair of particularly egregious trades in late 2009, exploiting the possibility of an acquisition of Playboy by Iconix Brand Group, (ICON), an SEC attorney told Marovitz that he was under investigation; a routine examination of his brokerage firm, Mesirow Financial, reportedly alerted the SEC. Hefner initially supported her husband, a former Illinois state senator and real estate developer who had collaborated with the Playboy CEO on a Greek casino project before they were married. The couple retained a joint attorney to represent them in the matter. But when Hefner was herself subpoenaed, she hired a lawyer of her own, and denied any knowledge of her husband's actions. "Over five years of alleged financial infidelity," Bloomberg sums up, "the SEC calculated that Marovitz gained, or avoided losses, of $100,952." The SEC officially sued Marovitz on Aug. 3, 2011, and he agreed to pay $168,352 "in disgorgement, prejudgement interest and civil penalties," according to an SEC spokesperson, without admitting wrongdoing. Hefner and Marovitz, once described by The New York Times as "a Chicago power couple," are currently separated. One puzzling question is why such a well-to-do person would engage in such reckless behavior for relatively minor rewards that he manifestly did not need. But the gratuitousness of the criminal behavior has long been a hallmark of insider trading cases, from Michael Milken in the 1980s to Raj Rajaratnam and Rajat Gupta in the past few years. (And the hugely wealthy Martha Stewart, who went to prison over approximately $230,000.) The answer might be that this crime has historically been pretty easy to get away with, leading some on Wall Street to view it as just another way of making money. According to the Bloomberg report, the case against Marovitz is part of a recent government crackdown, "A spike in criminal convictions and SEC enforcement actions in the last five years [which] shows the U.S. government does not share that blasé attitude toward a crime that cheats other investors." Some observers are skeptical. "Realistically," a recent consideration by TIME concludes, "10 years from now, we'll still be talking about the deterrent value of insider-trading investigations, as unscrupulous Wall Street actors continue to seek advantage over others by just about any means necessary." One securities lawyer has even suggested that the government give up the fight: Writing in Forbes, Bill Singer has argued that insider trading should simply be legalized, "so that the public gets the message, once and for all, that Wall Street is not a level playing field and that you must enter the casino knowing that some or all of the games of chance are fixed."

12-12-2012, 08:37 PM	#2
AllAboutCams Femcams.com Industry Role: Join Date: Jul 2011 Location: bjcam.com Posts: 12,213	They got to make money somehow __________________ Binance - Blockchain and Crypto Asset Exchange Chaturbate make money in cams

12-12-2012, 08:37 PM	#3
AdultEUhost ORLY? Industry Role: Join Date: Oct 2005 Location: NL & US Posts: 2,579	That has zero to do with Manwin? __________________ ICQ: 267-443-722 / leon [at] adulteuhost [dotcom] Nominated for an XBIZ Award as "Webhost of the Year" in 2007, 2012, 2013 and 2014

12-12-2012, 08:48 PM	#5
mikesouth Confirmed User Industry Role: Join Date: Jun 2003 Location: My High Horse Posts: 6,346	Manwin bought Playboy TV not playboy enterprises that has nothing to do with manwin __________________ Mike South It's No wonder I took up drugs and alcohol, it's the only way I could dumb myself down enough to cope with the morons in this biz.

12-12-2012, 09:55 PM	#11
AsianDivaGirlsWebDude Purveyor, Fine Asian Porn Industry Role: Join Date: Jul 2004 Location: San Francisco Bay Area Posts: 38,323	Silly Rant strikes (out) again... Oh yeah, and too bad for Christie if she didn't know about her hubby's insider trading (if that's what it proves to be). They reportedly separated last year, so apparently there is going to be little love lost there. ADG __________________ Asian Diva Girls - Exclusive Photos and Videos Asian Diva Girls Affiliate Program (50% ccBill Revshare)

12-12-2012, 09:24 PM	#10
epitome So Fucking Lame Industry Role: Join Date: Jun 2009 Location: St. Petersburg, FL Posts: 12,160	LOL just as clueless as always.

12-13-2012, 12:14 AM	#12
AdultKing Raise Your Weapon Industry Role: Join Date: Jun 2003 Location: Outback Australia Posts: 15,602	https://gfy.com/showpost.php?p=17503899&postcount=8