Tuesday, November 18, 2008

ESPN misreporting Cuban - Stewart link

ESPN which is in the business of sports news is repeatedly passing on false information to their viewers. They have compared Mark Cuban's situation where he is facing an civil inquiry into insider trading with marth Stewart's problems years ago. They are saying that Cuban, who is alleged to have found out information (not known to the general public) and acted on it to make a profit is at a similar place where Stewart was. She eventually went to jail. That is the implication that ESPN is allowing. Cuban could go to jail. Right?

Well not so fast.

Martha Stewart went to jail for perjury and obstruction of justice. Her stock sale was not even criminal! At worst she would have to pay a fine and disgorge of the money gained. The problem is she thought it was a crime and tried to cover it up by not being truthful, and trying to prevent the authorities from finding out the truth.

So in fact, as long as Cuban is honest and tells the truth, the only issue is whether he will have to pay the money back and a fine.

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