Rudy and the SEC

[Chin Diesel]

Not Rudy Gay and not the Southeast Conference.

NDU's Rudy giving the securities and exchange commission a check for almost $400K to avoid criminal charges.

"According to the Securities and Exchange Commission, Ruettiger ran a "pump-and-dump" scheme that enticed investors to bid up the stock of his sports drink company, Rudy Nutrition. Although Ruettiger did not admit or deny guilt, he did pay $382,866 in fines to resolve the SEC's allegations."

Me thinks his 16 minutes of fame is up.

http://rivals.yahoo.com/ncaa/footba...Rudy-Ruettiger-now-dubbed-a?urn=ncaaf-wp11595

 

[mattp]

i know i'm in the minority and i always get yelled at when i say so, but i thought Rudy came off as a big crybaby in that movie "waaa, put me in so my dad will love me, waaa". i did like Charles Dutton in it though

 

[sportsart]

I heard ND may get the death penalty because of this.

 

[junglehusky]

Sorry for hijacking this thread... but the SEC goes after a small-to-mid time pump and dumper, but when you have billions in intentional criminal fraud (for example, packaging toxic real estate derivatives, lying to investors about the quality of the assets and then shorting those same derivatives) that lead to the worst recession since the Great Depression, suddenly the SEC believes the fraudsters when they say they can't be criminals because they're too stupid.

Oh, I guess one thing Rudy and the Wall Street guys in common that sets them apart from your average pot bust or traffic fine - if they do prosecute you, all you have to do is pay a fine and it doesn't go on your record. I wish I could get that deal - go speeding down I-84 at 120 mph in my Ferrari, pay a couple grand and it never goes on my record. That way I can keep breaking the law in pereptuity, I just have to remember not to get caught doing it. The analogy fails though, in that if I have an accident in my Ferrari, I don't crash the whole economy, just my Ferrari (and maybe a few passersby). And for the analogy to really work, after I junk the car I'd have to somehow convince the Fed to bail out the replacement cost at zero interest.

/rant