Government says Mark Cuban's drive to win led him to commit insider trading

Published January 13, 2015

A government lawyer says the drive to win that helps Mark Cuban succeed in business led the billionaire basketball owner to cheat by using insider information to sell stock in an Internet company.

"Mark Cuban violated the law, and he knew better," Securities and Exchange Commission lawyer Jan Folena said Tuesday during opening statements to jurors at Cuban's insider-trading trial.

Cuban's lawyers are expected to give his side of the case later in the day.

It's a civil lawsuit; Cuban is not charged with a crime. The SEC wants Cuban to give up $750,000 he saved from selling his shares, plus pay a penalty that could be two or three times that amount.

URL

https://www.foxnews.com/us/government-says-mark-cubans-drive-to-win-led-him-to-commit-insider-trading