Mark Cuban Charged with Insider Trading

November 18, 2008 at 1:34 AM PST
Tags: Dancing with the Stars, Helio Castroneves, insider trading, Mark Cuban
Photos: splashnewsonline.com

Billionaire entrepreneur, Dallas Mavericks basketball team owner and season five Dancing with the Stars contestant, Mark Cuban, has been charged with insider trading by the Securities and Exchange Commission.

What’s up, Gordon Gecko?

He allegedly sold shares of an Internet company days before an announcement that the company would seek financing in 2004, according to the Wall Street Journal. That sale saved him over $750,000 in losses.

Cuban released a statement saying, “I wish I could say more, but I will have to leave it to this, and let the judicial process do its job… The government's claims are false, and they will be proven to be so.”

Uh huh, tell it to the judge.

Hey, maybe Mark and Helio can share a cell!

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