Equifax engineer gets 8 months house arrest for $75,000 insider trading spree


#1

Originally published at: https://boingboing.net/2018/10/17/equifax-sploitation.html


#2

Little guy = jail or house arrest.

Big corporations = paltry fine or slap on the wrist.


#3

So some IT guy was asked to create a website with a suspicious name, deduced from no other information that he might make some money selling his employer short, and he got this punishment for it. To be a relatively fair punishment, the people who decided to cover up the security leak as long as possible (and presumably asked him to design this site) should get the guillotine.


#4

Is any corporation truly our friend?


#5

Gosh, they really threw the book at him.


#6

Sure, if you’re the majority share holder :money_mouth_face:


#7

Truly. He’ll have to do all the things he normally does online, online!!! The horror. And have Safeway deliver his groceries, and Amazon deliver his gadgets. How will he possibly survive? :open_mouth:

Meanwhile, 61 percent or so of people in pre-trial detention (“innocent until proven guilty”… :-/) are black, and many will spend more time in jail before even having a trial than this guy will spend in his cushy house.


#8

Good plan. How could he ever repeat his crime while on house arrest? He can’t even go to the telegraph office to send a wire to his broker!


#9

Um, so, the CEO who dumped his stock in advance of the announcement?


#10

Well, book sales being what they are these days, one can’t expect throwing the book to be a substantial punishment anymore. Throwing 280 characters at him… now that’s a punishment.


#11

So, the judge maybe threw a blog post at him? :thinking:


#12

I used to work in credit and collections and the time I spent filing reports and collecting data from Equifax, I knew it wasn’t going to be a happy future. There were so many mistakes made on their part, postings to people’s accounts that were messed up and that cost people the ability to get a house or a car. Equifax even was demanding people fix their own mistakes in ways that violated collection laws! When I would call the assistance line, which I dreaded, one of the excuses I would get was “Do you know how many forms we file a day?” “Yeah, isn’t that kind of your job?” It left me with that notion that I should stuff a mattress with whatever I managed to save and only buy used cars from people I knew.


#13

Even then, if they had a reason to turn on them I bet they would.

I haven’t followed the series past the first season, but this is what I think of whenever someone says that corporations are people:


#14

To be fair, no one really “uses their services,” we’re just forced to be the product.


#15

Stuff like this and the Volkswagen scandal make me realize that software engineers should be paid even higher as a form of hazard pay.

Or, you know, recognize that we’re going to get thrown under the bus if we implement ANYTHING unethical/illegal for the bosses, and to push back.


#16

#17

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