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Author Topic: Obvious insider trading by Intel CEO  (Read 72 times)
thejaytiesto
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January 04, 2018, 03:59:50 PM
 #1

After these Intel exploits have been released (they have been there since 1995 apparently... a total fuck up, and the patch will make computers slower it seems... a nightmare for Intel) its CEO sold all of his shares except the minimum amount one must hold to be the CEO (250.000 shares)

http://www.businessinsider.com/intel-ceo-krzanich-sold-shares-after-company-was-informed-of-chip-flaw-2018-1

This is almost as obvious as Roger Ver's insider trading adventures. I wonder if he will end up in jail.


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parobber
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January 04, 2018, 04:18:27 PM
 #2

After these Intel exploits have been released (they have been there since 1995 apparently... a total fuck up, and the patch will make computers slower it seems... a nightmare for Intel) its CEO sold all of his shares except the minimum amount one must hold to be the CEO (250.000 shares)

http://www.businessinsider.com/intel-ceo-krzanich-sold-shares-after-company-was-informed-of-chip-flaw-2018-1

This is almost as obvious as Roger Ver's insider trading adventures. I wonder if he will end up in jail.

What about that is insider trading, he sold his shares as soon as an announcement was made? That's exactly the opposite of insider trading is it not? Had he have sold them just before a price dip caused by such news then that would suggest insider trading.

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thejaytiesto
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January 04, 2018, 04:47:29 PM
 #3

After these Intel exploits have been released (they have been there since 1995 apparently... a total fuck up, and the patch will make computers slower it seems... a nightmare for Intel) its CEO sold all of his shares except the minimum amount one must hold to be the CEO (250.000 shares)

http://www.businessinsider.com/intel-ceo-krzanich-sold-shares-after-company-was-informed-of-chip-flaw-2018-1

This is almost as obvious as Roger Ver's insider trading adventures. I wonder if he will end up in jail.

What about that is insider trading, he sold his shares as soon as an announcement was made? That's exactly the opposite of insider trading is it not? Had he have sold them just before a price dip caused by such news then that would suggest insider trading.

No, the CEO of intel sold MONTHS ago. In November specifically. And he sold the right amount at the right timeframe to not be able to be blamed of insider trading:

Quote
To avoid charges of trading on insider knowledge, executives often put in place plans that automatically sell a portion of their stock holdings or exercise some of their options on a predetermined schedule, typically referred to as Rule 10b5-1(c) trading plans. According to an SEC filing, the holdings that Krzanich sold in November — 245,743 shares of stock he owned outright and 644,135 shares he got from exercising his options — were divested under just such a trading plan.

What a coincidence.... he made $39 million selling these shares before hit shits the fan. Im sure they didn't release the news 3 months after that to be able to have a margin of time to sell. Intel stock is getting dumped now and AMD is pumping.


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January 04, 2018, 05:19:25 PM
 #4

No, the CEO of intel sold MONTHS ago. In November specifically. And he sold the right amount at the right timeframe to not be able to be blamed of insider trading:

Quote
To avoid charges of trading on insider knowledge, executives often put in place plans that automatically sell a portion of their stock holdings or exercise some of their options on a predetermined schedule, typically referred to as Rule 10b5-1(c) trading plans. According to an SEC filing, the holdings that Krzanich sold in November — 245,743 shares of stock he owned outright and 644,135 shares he got from exercising his options — were divested under just such a trading plan.

What a coincidence.... he made $39 million selling these shares before hit shits the fan. Im sure they didn't release the news 3 months after that to be able to have a margin of time to sell. Intel stock is getting dumped now and AMD is pumping.
It's Equifax all over again. I hope they find a way to charge the Intel CEO, especially if their exploitable code was also done in an effort to improve performance. That means they've been falsifying their specs for years, which is fraud -- like when Volkswagen lied about their emissions.

Do not depend on a partial feeling. -Musashi
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January 04, 2018, 06:22:00 PM
 #5

After these Intel exploits have been released (they have been there since 1995 apparently... a total fuck up, and the patch will make computers slower it seems... a nightmare for Intel) its CEO sold all of his shares except the minimum amount one must hold to be the CEO (250.000 shares)

http://www.businessinsider.com/intel-ceo-krzanich-sold-shares-after-company-was-informed-of-chip-flaw-2018-1

This is almost as obvious as Roger Ver's insider trading adventures. I wonder if he will end up in jail.

not surprising
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January 04, 2018, 09:46:56 PM
 #6

Thanks for posting this. OP's article:

Quote
Intel CEO Brian Krzanich sold off a large portion of his stake in the company months after Google had informed the chipmaker of a significant security vulnerability in its flagship PC processors — but before the problem was publicly known.

The vulnerability, which affects processors from Intel, AMD, and ARM and could allow malicious actors to steal passwords and other secret data, became public this week. The disclosure has left processor makers and operating-system vendors including Intel and Microsoft scrambling to get on top of the story and patch their products.

But while the public is just being informed about the security problem, tech companies have known about it for months. In fact, Google informed Intel of the vulnerability in June, an Intel representative told Business Insider in a statement.

That means Intel was aware of the problem before Krzanich sold off a big chunk of his holdings. Intel's CEO saw a $24 million windfall November 29 through a combination of selling shares he owned outright and exercising stock options.

The stock sale raised eyebrows when it was disclosed, primarily because it left Krzanich with just 250,000 shares of Intel stock — the minimum the company requires him to hold under his employment agreement.

But the sell-off could draw even more scrutiny now, given the news about the security vulnerability and the timing of when Intel knew about it.

A representative for the Securities and Exchange Commission declined to comment on whether it was looking into the stock sales.

Intel says the sale was preplanned — but that plan was put in place months after it learned of the chip vulnerability
In the statement, the Intel representative said Krzanich's sale had nothing to do with the newly disclosed chip vulnerability and was done as part of a standard stock-sale plan.

"Brian's sale is unrelated," the representative said in the statement, adding that Krzanich "continues to hold shares in line with corporate guidelines."

To avoid charges of trading on insider knowledge, executives often put in place plans that automatically sell a portion of their stock holdings or exercise some of their options on a predetermined schedule, typically referred to as Rule 10b5-1(c) trading plans. According to an SEC filing, the holdings that Krzanich sold in November — 245,743 shares of stock he owned outright and 644,135 shares he got from exercising his options — were divested under just such a trading plan.

But Krzanich put that plan in place only on October 30, according to the filing. The representative said his decision to set up that plan was "unrelated" to information about the security vulnerability. Still, the timeline raises questions.

News of the security flaw helped send Intel's stock lower Wednesday. It closed down $1.59, or 3.4%, to $45.26.

http://www.businessinsider.com/intel-ceo-krzanich-sold-shares-after-company-was-informed-of-chip-flaw-2018-1

....

I've read about hardware vulnerabilities relating to CPU's for years. These types of electronic attacks have been achieved as a proof of concept for a long time(if I'm remembering right). I guess this is the first time we have a confirmed exploit? Whatever the circumstances surrounding this, I would guess they existed as 0day vulns for a long time. Its long been known that governments buy these types software vulnerabilities for $250,000+. Google reporting the vuln publicly could be an ethical move on their part aimed at reducing the degree to which state surveillance is able to exploit these flaws to gather intel. There's also a chance that this vuln is related to the high number of electronic thefts we've seen relating to credit card and other data. In which case, this could simply be an act of self preservation towards the financial institutions who might be affected.

Whatever the circumstances, there's no way Krzanich will face any form of legal action over this(not saying that he should). There are far worse precedents of abuse, insider trading and exploitive behavior that have gone unpunished. I don't mind Krzanich selling his stock on insider info.

There are likely other angles to this story that go unnoticed. States and governments have been pressuring the tech sector for a long time to build backdoors into products which allow state intelligence to collect data and monitor usage of its citizens. Microsoft, AMD and other tech giants could have built these vulnerabilities into their products deliberately to allow the NSA and whoever else to collect data and spy on people.

It is a conspiracy theory & all of it could be 100% incorrect. But maybe something worth noting.

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January 04, 2018, 09:59:20 PM
 #7

Microsoft, AMD and other tech giants could have built these vulnerabilities into their products deliberately to allow the NSA and whoever else to collect data and spy on people.

It is a conspiracy theory & all of it could be 100% incorrect. But maybe something worth noting.
I think the case is that we've known this was happening for decades but had no definitive, solid proof of the conspiracy. Now we do, so everyone is waiting for the shoe to drop -- how will this be addressed by the tech industry, the alphabet soup, the gov, et al.
How do you react when this kind of flaw is made public?

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January 04, 2018, 10:27:38 PM
 #8

I think the case is that we've known this was happening for decades but had no definitive, solid proof of the conspiracy. Now we do, so everyone is waiting for the shoe to drop -- how will this be addressed by the tech industry, the alphabet soup, the gov, et al.
How do you react when this kind of flaw is made public?

....

There won't be a reaction. No one will discuss this or do legitimate fact checking on it. I doubt anyone cares. If you look at all of the journalists and independent media people one might expect to jump on this story, none will cover it. Everyone is selling out and it might be game over as far as legitimate & informative media goes. To be honest, I'm selling out too and will be cutting down on the amount of legit content aimed at benefiting public interest which I normally made in the past.

The overwhelming amount of utter silence pervading real and pressing issues we face today. That's all people need to know as far as topics like this go.

Also there could be an overwhelming amount of evidence to support said conspiracy theory. I did some quick searching via google and it looks like search results have been scrubbed to strip out relevent data. So, that's where we are right now in 2018. Maybe things will get better, then again maybe not.

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January 04, 2018, 10:46:48 PM
 #9

I think the case is that we've known this was happening for decades but had no definitive, solid proof of the conspiracy. Now we do, so everyone is waiting for the shoe to drop -- how will this be addressed by the tech industry, the alphabet soup, the gov, et al.
How do you react when this kind of flaw is made public?

....

There won't be a reaction. No one will discuss this or do legitimate fact checking on it. I doubt anyone cares. If you look at all of the journalists and independent media people one might expect to jump on this story, none will cover it. Everyone is selling out and it might be game over as far as legitimate & informative media goes. To be honest, I'm selling out too and will be cutting down on the amount of legit content aimed at benefiting public interest which I normally made in the past.
We are becoming more balkanized in our day-to-day lives; the media who "one might expect to jump on this story" won't, like you say -- because they don't have to, because most people are so wrapped up in the tunnel vision of their media hole to care.
Quote
The overwhelming amount of utter silence pervading real and pressing issues we face today. That's all people need to know as far as topics like this go.
Sad but true.
Quote
Also there could be an overwhelming amount of evidence to support said conspiracy theory. I did some quick searching via google and it looks like search results have been scrubbed to strip out relevent data. So, that's where we are right now in 2018. Maybe things will get better, then again maybe not.
I trust they will get better, Hydrogen  Cool

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January 05, 2018, 06:48:32 PM
 #10

Another despicable CEO. Make money and just let the customers suffer. I don't believe that they build this vulnerabilities into their chips on purpose but the NSA sure will not notify them if these are discovered.

Quote
Intel says the sale was preplanned — but that plan was put in place months after it learned of the chip vulnerability
In the statement, the Intel representative said Krzanich's sale had nothing to do with the newly disclosed chip vulnerability and was done as part of a standard stock-sale plan.

Hah, who do they think would believe this.
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January 06, 2018, 07:35:44 PM
 #11

After these Intel exploits have been released (they have been there since 1995 apparently... a total fuck up, and the patch will make computers slower it seems... a nightmare for Intel) its CEO sold all of his shares except the minimum amount one must hold to be the CEO (250.000 shares)

http://www.businessinsider.com/intel-ceo-krzanich-sold-shares-after-company-was-informed-of-chip-flaw-2018-1

This is almost as obvious as Roger Ver's insider trading adventures. I wonder if he will end up in jail.

What about that is insider trading, he sold his shares as soon as an announcement was made? That's exactly the opposite of insider trading is it not? Had he have sold them just before a price dip caused by such news then that would suggest insider trading.

No, the CEO of intel sold MONTHS ago. In November specifically. And he sold the right amount at the right timeframe to not be able to be blamed of insider trading:

Quote
To avoid charges of trading on insider knowledge, executives often put in place plans that automatically sell a portion of their stock holdings or exercise some of their options on a predetermined schedule, typically referred to as Rule 10b5-1(c) trading plans. According to an SEC filing, the holdings that Krzanich sold in November — 245,743 shares of stock he owned outright and 644,135 shares he got from exercising his options — were divested under just such a trading plan.

What a coincidence.... he made $39 million selling these shares before hit shits the fan. Im sure they didn't release the news 3 months after that to be able to have a margin of time to sell. Intel stock is getting dumped now and AMD is pumping.

Oh my apologies, I misread your post at first and interpreted as that he had sold them right now on the news. It's nothing new for CEOs etc to profit even when their companies are in crisis, somehow they get away with it. Let's not forget that most major companies etc all sit in on and advise law makers when creating rules around insider trading etc, it's then really no surprise that such things can easily happen.

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thejaytiesto
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January 09, 2018, 04:45:16 PM
 #12

Another despicable CEO. Make money and just let the customers suffer. I don't believe that they build this vulnerabilities into their chips on purpose but the NSA sure will not notify them if these are discovered.

Quote
Intel says the sale was preplanned — but that plan was put in place months after it learned of the chip vulnerability
In the statement, the Intel representative said Krzanich's sale had nothing to do with the newly disclosed chip vulnerability and was done as part of a standard stock-sale plan.

Hah, who do they think would believe this.

Well this vulnerability is present in chips as old as 1995... im not sure if the NSA was already planning to do what they do nowadays, but currently im sure that Windows and Intel are working tightly with the NSA and allocating resources to their backdoors. Intel Management im sure is an NSA-Intel cooperation.

If it has taken decades to find this exploit then imagine how much will it take to find other exploits.


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