How much is Left? (worth)
Lets play a game, and backtest stocklemon's reportcard, using the $25k in stolen loot from Detour. All stock quotes here provided by bigcharts.com. All fees excluded, and we will pretend he did NOT use margin. All Shorts on the open, covers on the close.
Aug 6, 2001. Go short on IJoin Systems (IJON) with $22,500. Ijon opened @ 9.15, resulting in 2459 shares short.
Aug 20, Cover the short @ the close @ 4.15. Congrats, you just turned your stolen 25k into $34,795.
Aug 21, 2001. Go short on Junum, Inc @ 4.00 resulting in 8698 shares short.
Aug 30, Cover the short @ the close @2.00. Congrats, you just turned your stolen 25k into $52,155.
Aug 31, 2001. Go short on Xaibe, Inc @ 6.00 resulting in 8692 shares short.
Sept 16, 2001 Cover the short @ the close @3.00. Congrats, you just turned your stolen 25k into $78,232.
Sept 17, 2001. Go short on MAAX @ 3.15 resulting in 24825 shares short.
Nov 14 2001 Cover the short @ the close @1.35. Congrats, you just turned your stolen 25k into $122,936.
ok, screw it - this will take forever and these historical quotes on otc stocks are a pain to find. lets just say he averaged 25% per trade. Mr. Left would now be worth $3,848,781,182.53. Yup, thats 3.8 BILLION, with a B. Ok, I'd bet there was the occasional hooker and crack rocks, but you get the idea. They claimed that they only missed once, and they cut a 440m dollar market cap stock (HOM) in half in one day. These guys have some serious bank behind them.
1 entry found for ill-gotten gains.
"Benefits obtained in an evil manner or by dishonest means, as in They duped their senile uncle into leaving them a fortune and are now enjoying their ill-gotten gains. [Mid-1800s]"
Shall I quote some case law? Ok, I shall:
From a 1998 case in California (http://caselaw.lp.findlaw.com/cgi-bin/getcase.pl?court=9th&navby=case&no=9910404)
"In United States v. Stoddard, 150 F.3d 1140, 1147 (9th Cir.1998), this court implicitly considered whether restitution ofprofits from lost corporate opportunities was authorized by the VWPA. In Stoddard , the defendant, an official of a sav-ings bank, misappropriated $30,000 from an escrow account and used the money to fund two real estate purchases. 150F.3d at 1142-43. The defendant later sold the properties at a profit. Id. The district court ordered restitution in the amount of $116,223, apparently encompassing the defendant's profits from the real estate transactions."
Think the former Detour Board would like to hear about this?