SEC, DOJ charge Smith for timely Score Media trades
2026-03-31 20:03 ET - Street Wire
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by Mike Caswell
The U.S. Securities and Exchange Commission and U.S. Department of Justice have filed insider trading charges against former New York broker Ronald Smith, citing him for trades in Toronto Stock Exchange listing Score Media Inc. ahead of a $2-billion takeover for the company in 2021. (All figures are in U.S. dollars.) The SEC claims that Mr. Smith learned about the deal indirectly, through an associate who was in a relationship with an executive assistant at an investment bank. Mr. Smith realized $500,000 in gains, while brokerage clients realized $5-million, according to the SEC.
The charges against Mr. Smith are contained in an indictment unsealed on Monday, March 30, and a parallel civil complaint that the SEC released the same day. Mr. Smith made his initial appearance before a judge in New York on Monday afternoon. The judge allowed him to go free on a $1-million appearance bond.
The case, as set out by the SEC, stems from a chain of inside information that came from a woman who was employed as an executive assistant at an investment bank that worked on the Score Media takeover. The SEC says that the woman shared an apartment with a man named Steven Teixeira (who has since pleaded guilty to related charges).
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Somali's sentenced in the past few weeks for stealing USA taxpayer monies for 1 year or less. That is $5 million to $250 million US green cash, fiat as they call it.
Meanwhile, all these white dudes getting flayed for decades on people actually buying stock in the market. The merits of the cases mean nothing. but it is evident there is a perversion of theivery by governments in these cases compared to the politically approved USA taxpayer monies theft. The judiciary in Canada abetting the USA in these acts for decades.
Posted by oh at 2026-04-01 08:08
One more thing. Again it's a non disclosure situation where information flying around. If there was no agreement signed about hearing private information, which actually if this broker knew about, it already was in public domain, how is it insider trading?
In Vancouver a few years ago, some old geologist, who had the commodity of the day, actually would get on the phone and phone everyone the results before the news was issued. Why?
Posted by oh at 2026-04-01 08:29
1990's was called to attend meeting in London UK. Arrived, but the brokerage was gone. Called. They laughed, "git yer cdn arse to canary wharf". Arrive and the place still under construction. They moved out of old place and into new one over night.
Brokerage, 1 of the huge 2, had debentures in CDN entity building Canary Wharf. Asked what the hell, and the director said, the pubco listed on Toronto was in default and was done, gone. I said listen, I saw the trading, but there has been no news release and the director laughed, and gave me a churchill.
The whole fuking London knew the Reichmanns were done and not 1 news release was issued for a few weeks in Canada.
Same time I was there, just before getting on the plane, I saw 3 sourpuss faces, some big time vancouver promoter at the time, and 2 associates, one a childhood friend.
While was there at the urgent meeting, that deal was getting face slammed and some situation happened. Again, the whole world knew what was happenig but no news.
Stay away from freight trains coming down with no news and stay away from frieght trains going higher on no news.
Posted by oh at 2026-04-01 09:43