Quote:
Originally Posted by Toymeister
The question MD Flyer should have is not if Michael Whitaker had GWL bonds or not, rather when did Whitaker have SUPERIOR KNOWLEDGE of GWL's impending failure. GWL did not file disclosures Whitaker knew this, apparently, and did not notify clients.
If true, then this is clearly a case of withholding superior knowledge. MD Flyer should be arguing Whitaker withheld this superior knowledge to clients whom he had a duty to share it with.
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Michael Whitaker did inform us that GWG had missed two reporting quarters but at the same time told us that there was nothing to worry about since they were just having some organizational problems and were in very good financial condition. Since he made statements like this I have to assume that he had insider information on the financial condition of GWG. My point in asking about his ownership of GWG was to point out that he had advanced or "Superior information" that he acted on but did not inform clients about. I am betting that he did have "Superior Information" and acted on insider information.