Fall guy for trading losses

Societe General "just discovered" that it lost $7-Billion USD. It’s blaming its loss on a low level employee. Maybe he did it and maybe he didn’t. Is he guilty or is he merely the victim of office politics?

You should be worried if you’re an employee authorized to trade anything for you company.

Here’s some information you can use as part of your Trading Plan, but don’t let your boss see it. You’ll need to implement these ideas before you get fingered, especially if you’re innocent.

Do you think you're presumed innocent until proven guilty? No way! You're going to jail before getting the chance to prove your innocence! Never mind that the onus of proving guilt rests with the prosecution and that theoretically you're "presumed innocent." That's for TV and the movies...real life is different.

In countries that follow the tradition of the former British Empire (including the USA, Canada and Australia), the rules of law allow an arrest when there is enough evidence to give the prosecutor a chance of getting a conviction. That chance may be slim, but there must be a chance.

For offences involving trading, the authorities today usually jail a suspect until his lawyer convinces a judge to let him out pending trial. Here are some things you can do to improve your chances of getting out on bail pending your trial.

By the way, the following is not intended as legal advice. Everything written here is intended only for education and entertainment purposes. Every reader should consult his or her own lawyer for advice about the matters mentioned herein.

Generally, to get you released from jail if you get arrested before being found guilty of anything, your lawyer needs to convince the court that you will show up at your trial if set free. Additionally, your lawyer must convince the court that you are not a danger to the public and that being releasing before trial would not embarrass the judicial system.

...continued tomorrow...

Copyright 2008 Raymond T. Lee. All rights reserved.
Leisurely e-Mini Futures Trading
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