Alleged Insider Trading Idiot Was Once A Hero

Talk about a downfall. The man alleged to have stupidly bought Perot (PER) stock options ahead of the proposed Dell acquisitions was once a hero.

WSJ: But three decades ago, [Reza] Saleh played a vital role in a bold mission to rescue two Perot employees who were being held hostage in an Iranian jail, according to people familiar with that effort. The rescue was the basis of the book “On Wings of Eagles,” by Ken Follett.

“It would not have happened without him,” said Ralph Boulware, a former employee of Electronic Data Systems, Mr. Perot’s company at the time, who was part of the rescue team assembled by the Texas billionaire.

Mr. Boulware said Mr. Saleh, an Iranian employee of EDS at the time, led the mob that broke into the prison where the two EDS employees were being held, then helped shepherd them on a harrowing trip through Iran to escape over the Turkish border.

“Unsolicited and with no promise of reward, this guy put his life on the line and didn’t flinch,” Mr. Boulware said.

Since moving to the U.S., Mr. Saleh has worked for the former presidential candidate and several of his companies, according to court documents and neighbours. Public records show a financial relationship that dates back at least to the mid-1980s.

This only makes the allegations more plausible, sadly, since it bolsters the idea that he had intimate knowledge of the company’s actions. One thing that’s not clear to investigators is how Mr. Saleh financed the stock options purchase, given his claim to a net work of less than $1 million (a bit surprising, perhaps, given three decades working for with Ross Perot and many years at Perot systems).

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