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Insider Trading With Mom

Bruce Carton | December 14, 2010

For whatever reason, when it comes to insider trading conspirators, the mother-son combo is almost non-existent. Cases brought against combinations such as father-son, brother-brother, and uncle-nephew are routine, but it seems as if something in the human condition just won't allow offspring to get involved in insider trading schemes with their moms--or perhaps vice versa.

But not always--at least not in Canada! The Ontario Securities Commission alleges that Helen Kuszper, an accountant at insurance company Kingsway Financial Services Inc., used code language to orchestrate an insider trading scheme with her son that resulted in an illegal profit of $300,000. The Financial Post reports that through her job, Ms. Kuszper allegedly learned that Kingsway would report a material loss for the first quarter of 2008. Using code names such as "barabola" for Kingsfield and "...

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