I love that Hastings is making himself out to be the victim in that PM, like he has been so wronged.

Do you disagree with post #175?

That story is pretty old, it was an example given by the SEC either in a court case or another venue like two decades ago, but was not an actual case.

But just google SEC overreach and you'll get the other side of the story and why all insider trading isn't illegal and even much of what the SEC claims is illegal may not be.

For example, if a doctor helping perform a medical study asks a company rep how it's going and the rep ecstatically says "better than we ever expected, the drug is far more beneficial than we knew and the study will probably end early". The doctor rushes to the phone and buys their stock from his broker, a few weeks later the company announces the study ended early and the drug is going to be approved and the stock price shoots up.

1) Did the rep commit insider trading? He had a kind of "fiduciary responsibilty" to not share material non-public information. Did he violate it? He never told the doctor to buy stock and his job was to talk with doctors about the study.

2) Did the doctor commit insider trading? He didn't work for the company, didn't sign any agreement about stock trading, he had no "fiduciary duty" to protect the information. He had no firm information about the drug, it turned out to be true but could have been a low level rep talking out his ass.

The SEC will try to get the Doctor to agree to "disgorge" his "ill gotten earnings" because when it takes cases like this to court, it's track record isn't good. The court will want the SEC to establish the information was "material", i.e. had a significant effect on companies value, that it was "non-public", and whether the doctor owed a duty to the company not to act on the information.

It's not trivial to prove all three to the satisfaction of many judges, especially the last one.

+1 and I also think Imalucksac (Kevin) has been 100% straight. I think most people that play poker are.

With that said, there seems probable that Doyle Brunson, Chip Reese, Amarillo Slim, and Stu Ungar shot angles, soft played people they shared bankrolls, or even out right cheated doesn't surprise me.

If a live player changes appearance, would you consider that cheating? Say you are playing Bruce Jenner one day and then next day Caitlyn Jennfer shows up...

As if this has any effect on the legalization or not of poker in the USA. Lmao what a scum titty flopper.

Or Phil Laak in an old man costume.

So This. +1

Can I Live? -Victim

Flights from Florida to Cancun where you can play legally under your own name costs less than 200 bucks and under 2 hrs. Bla bla bla family gf.

"You dirty dog Hastings!"

'I was multi-accounting!'

Dude I'm not talking about all the little intricacies of insider trading cases that go through years of appeals courts looking at every detail to determine intent etc. We're not lawyers here. And no one says someone committed insider trading but they're not guilty. It's only considered insider trading once they are found guilty. But anyways I am talking about what anyone in the world would think of when they hear insider trading. The kind where someone has first quarter results in their hand before they are published and trades on them. My point is in both these cases ( poker and finance) people cheat to gain advantages over competition. It's a very good analogy

sure, agree with this completely about free rolling and I wasn't really talking about what his punishment should be.
although if you were up say 100k against him it's not clear what should happen either (probably nothing/much will happen, whether something should or not is a different great question)

Stars ipoker hearing going on in cali this summer may have a couple extra questions now. Heard on the PNPOD there's another one in a couple weeks.
Not surprised they are taking a while to respond.

With all the cash he made from Isildur he can afford to fly anywhere he wants and play online poker. He did not need to VPN and use a fake account. So many excuses.

That PM is awful. This guy is scum. I just drove 4 hours (sick traffic obv.) back from Rosarito to LA. I only grinded like 12 tourneys on Pokerstars. This guy couldn't leave the country because he got depressed when he wasn't near his Mommy? wTF? So he VPN's and MA's on Stars?? GTFO!! Ships two bracelets? He Needs to ship a salad and a gym membership!! Now he cries that we are taking the Attention away from the WSOP? Omg. I hope I don't see him at the Rio next week. I might go off!

Out.

ROFL

This was such a bizarre video. Basically just saying everyone does this

I hate Brian Hastings so ****ing much, since 2009. As someone said, it's +EV to be unethical in this industry actually, but it should not be. There must be severe punishment for these crimes.

Einhorn is a man!!!

I listened to the CA state assembly informational hearing yesterday afternoon and yes, this I will be shocked if this specific situation isn't brought up and there is much discussion and probably clauses added to any potential bill. I could see it going several ways, and my biggest fear is that this could be the nail in the coffin for US regulated Ipoker. I listened to Joey's podcast about it today, I agree with him in almost all areas and am also saddened by the situation but for different, selfish, personal reasons. I feel bad for the community as a whole also.

The Indian tribes in CA will most likely hear of this and use it as "proof" it can't be regulated and then those in favor will have to answer.

Assuming we can get through that and the rest of the major hurdles, there is then the question of how to handle BH and others in similar situation. Theoretically speaking, if the company(s) that were victims of MA's and VPN's weren't able to prevent it how will they in the US(sure cell triangulation and such but still, this is super bad press for us, not to mention scary as a player). Being that it's not illegal to play from the US BH didn't really break any laws just hustled a bunch of people and offshore gaming sites.

Cliffs - If Stars couldn't prevent this from happening how are they or anybody else going to get regulated..I think BH's business and rake, taxes will be quite welcome and appreciated on regulated sites by said sites and the govt. Not trying to to derail this into a ipoker regulation in the US direction but I'm very on top of CA and the varying factions, arguments for and against it, where the lobbying $ and clout is etc and I think this is VERY bad. Regulation in CA is a longshot anyway and I'd be interested to other states like PA and NY(states without indian gaming) handle this news.

Hopefully that makes sense, sorry for my lack of ability to communicate better.

Great, now Hastings ruined poker for all of America.

I'm not even being sarcastic.

well it's a long shot anyway but this sure didn't help IMO. Something else I just thought of that could help regulation would be if he reported and paid taxes on all the winnings!

not implying he didn't or hasn't etc, just that the govt likes collecting taxes is all

True story! He can't even keep to Cheater ethics which is Deny Deny Deny wtf?? He admitted it?? What a Tool!