Can you trust your roommate not to insider trade on one of your work projects?
You’d hope so, especially if they were your significant other. But a new SEC case against a 26-year old accused of insider trading on info he allegedly obtained from his girlfriend, who was working on Disney’s acquisition of Marvel, might make you think twice first.
The lawsuit against him says Toby Scammell either overheard his live-in ex-girlfriend’s work-related conversations, viewed work documents she brought home, or saw documents she had on her computer or Blackberry, and/or spoke with her about the deal so that he had enough information to make $192,496.61 — profits he never told her about.
It’s not evident that Scammell’s girlfriend, whom he met at Bain & Company, a consulting firm, faced any negative repercussions at work, but her close involvement in the case has obviously taken up valuable time.
It all started when she got an “externship” (more hands on and high level than an internship) at Disney in the Corporate Strategy Department and excitedly told her boyfriend about it. He was 24 at the time and vacationing in Africa, so she emailed him.