What crime do you believe Scammel's actions led to his being charged with? Do you think there was enough evidence to warrant his conviction for that crime? [S. E. C. v. Scammel, 2011 WL 3506153 (C. A. C. D., Aug. 11, 2011).]

Question

Isla Hendricks

Business

16 July, 11:54

What crime do you believe Scammel's actions led to his being charged with? Do you think there was enough evidence to warrant his conviction for that crime? [S. E. C. v. Scammel, 2011 WL 3506153 (C. A. C. D., Aug. 11, 2011).]

+1

Answers (1)

Know the Answer?

Jacquelyn Buchanan · Answer 1

Answer: Scammell was accused of trading fraud.

Explanation:

Toby Scammell was a resident of San Fransisco who made $192,000 trading illegally after he was aware that Marvel Entertainment would be purchased by Walt Disney. He was accused by SEC of placing speculative bets after he was informed by his girlfriend that Walt Disney would buy Marvel Entertainment Company.

There were not enough evidence to convict him. The agency was unable to tell everyone exactly how Scammell learned about the proposed Disney's acquisition of Marvel. The S. E. C. assumed he got the information from his girlfriend which he denied. His browsing history was also checked and entries like material and insider trading were found. I believe the fact that those words were found on his computer doesn't necessarily mean he was guilty. It could just have been a coincidence and according to Scammell, he said the online searches had nothing to do with Marvel.