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Though I don’t mean “insider trading” as in stocks & shares (or maybe so in the case of Aer Lingus & other state enterprise) but more in the context of government development plans and the like.
Is it likely that TD’s or even ministers could possibly be trading valuable information regarding anything from construction & re-zoning to nationalised assets?
For example, there is undisclosed discussions about the construction of a prison been built within the vicinity of Dunshaughlin Co. Meath (just an example), a TD involved with the meeting is then left with the possible option of selling on this information to selected private investors, they can then purchase x amount of land for €5M... the plans for the prison are publically unveiled and the land goes up for sale at €10M or €15M. As there may be few or no other land options for the government they will then have to succumb to the investors demands. All the while the investor makes a nice 100 to 200% profit and the insider gets a nice brown envelope.
I could list hundreds of possible ways TD’s can benefit from selling on information for personal benefit but more to the point to what extent are the business activities of TD’s regulated, is there stringent laws against such abuse of position and are suspect dealings adequately & independently investigated???
A topic worthy of debate in my view!
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Originally Posted by drjimryan