https://padlet.com/patrickkarbowski1_1/dwg65liyxk2sv6pv en-us 2023-04-04 14:32:15 UTC 2025-10-10 15:02:40 UTC hello@padlet.com patrickkarbowski1_1 https://padlet.com/patrickkarbowski1_1/dwg65liyxk2sv6pv/wish/2543775603
The insider trading involved Albert H. Wiggin, who was the head of Chase National Bank at the time. The incident took place during the lead-up to the Wall Street Crash of 1929. 

Wiggin shorted more than 40,000 shares of his own company, Chase National Bank, using companies owned by his family to hide the trades. 

This act gave him a vested interest in running his company into the ground. At the time, there were no specific rules against short-selling stocks of your own company, so Wiggin made over $4 million from this act legally.

]]> 2023-04-04 14:42:18 UTC https://padlet.com/patrickkarbowski1_1/dwg65liyxk2sv6pv/wish/2543775603 patrickkarbowski1_1 https://padlet.com/patrickkarbowski1_1/dwg65liyxk2sv6pv/wish/2543776419 Albert H. Wiggin was a respected banker who served as the head of Chase National Bank. 

He was a prominent figure in the financial sector, but his reputation was tarnished when his insider trading activities were exposed following the Wall Street Crash of 1929. 

Wiggin's actions during this time not only affected his own reputation but also led to regulatory changes in the financial industry.]]> 2023-04-04 14:42:50 UTC https://padlet.com/patrickkarbowski1_1/dwg65liyxk2sv6pv/wish/2543776419 patrickkarbowski1_1 https://padlet.com/patrickkarbowski1_1/dwg65liyxk2sv6pv/wish/2543779238 As this occurred before the Securities and Exchange Act of 1934, there was no court involvement in Wiggin's case. However, his actions played a significant role in the formation of the Act, which aimed to prevent and prosecute incidents of insider trading and other fraudulent activities in the financial markets.]]> 2023-04-04 14:44:35 UTC https://padlet.com/patrickkarbowski1_1/dwg65liyxk2sv6pv/wish/2543779238