MovieChat Forums > Wall Street (1987) Discussion > Likelyhood Bud's lawyer friend was arres...

Likelyhood Bud's lawyer friend was arrested too?

posted 11 years ago by coolk1970
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I'm no expert when it comes to insider trading. But it seems it would be hard to prove he invested in Teldar stock because Bud told him to.

It also seems to me it would have been hard to prove Bud had inside information on Teldar as well. Any chance his lawyer friend testified against him?

[–] capablecarl 11 years ago

Spader parked money in his account so there was certainly a paper trail, and the SEC was familiar with this laundering technique. Spader's opportunity to avoid jail would have depended on his willingness to cooperate.

Since he was clearly a greedy, self-preserving, cheese-eating, limp d!ck like most attorneys, the chances that he spilled his guts to the feds were all but 100% guaranteed.