I don't know how you can go from a single case to "That is all poppycock." Hedge funds are thirsty for information; it's not unprecedented for him to have been a legitimate operator who fooled himself into thinking he could get away with one big illegal trade.
This guy's net worth was five times that of Boesky -- could he have gotten away with five times the chicanery, especially after enforcement was stepped up thanks to Boesky et al.?
I just can't believe how foolish he was. He is a billionaire - he does not need to put on any inside trades at all. The risk to reward on that trade made it an incredibly bad trade to take. Boggles my mind.
This guy's net worth was five times that of Boesky -- could he have gotten away with five times the chicanery, especially after enforcement was stepped up thanks to Boesky et al.?