crime

Man being investigated over insider trading of Toshiba stock

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The man was working at a medical institution in Tokyo in 2015 and later transferred to Toshiba Hospital, run by the company in the capital. He retired in March this year.

Must be nice, here in Japan retiring at 40? Damn, must of made more than what is being reported here.

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what does "short selling of shares" mean? Im keen to retire at 40. anyone enlighten me?

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How many Toshiba executives have been arrested over the scandal? I think the answer is none. Several million Yen isn't a huge amount of money, yet it is enough for this guy to get arrested. Meanwhile, Toshiba stock holders have lost huge sums and the executives walk away scot free.

Short selling is when you borrow stocks to sell now (when the price is high). You then hope that the price will fall in the future so that you can buy them back more cheaply. If the price goes up, you lose.

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Toshiba stock holders have lost huge sums and the executives walk away scot free.

its not illegal to lose money for your shareholders, per se. Shareholders need to think about what they are owning. Personally I own no Japanese stocks (besides my GPIF stake which I am not counting on) and I like it this way.

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How many Toshiba executives have been arrested over the scandal?

None, but then Japan Inc executives are above the law. Remember the Olympus executives who were actually arrested and convicted? All received suspended sentences, and served no time in jail. Had they been arrested and convicted in America, they would have likely died in prison.

Short-selling stocks is often passed off as a bad or shady practice, but being able to sell stocks short motivates companies to manage themselves better. The doctor in this case probably committed no greater crime than betting against Japan Inc, which is not technically illegal, but is something of a cultural no-no. And in Japan, culture tends to trump law.

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Poor business decisions may cause stock prices to go down and that's tough luck for the shareholders. However, I think people who invested in Toshiba based on the false accounts put out by the executives could claim to have been misled and the executives should be charged with fraud. But I know they won't be.

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