Tuesday, June 14, 2011

A Painful Lesson on No-Jail Plea Deals

When you are facing 25-years and you get a no-jail plea deal TAKE IT!

Lawyer-turned-trader Michael Kimelman, who believed so strongly in his innocence that he turned down a no-jail plea deal offered by prosecutors last month to try to beat the federal government's insider-trading charges at trial, was convicted by a jury yesterday, according to NyPo.

He faces up to 25 years.

Insider trading is a scam charge only done to boost prosecutor resumes, but it is a complex game with prosecutors. Don't try to "clear your name" when you can walk away from the game without jail time. In this day and age of lying prosecutors, no one puts serious weight on what the government thinks of you, especially when it comes down to insider trading charges. Remember, insider trading charges are such a joke that Congress has exempted itself from insider trading laws.

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