The Dutch business magazine Quote has raised questions whether All Options chief Allard Jakobs has been involved in insider trading. While the magazine isn’t famous for it’s financial expertise, it’s certainly having a focus on juicy stories on the niveau riche. However, there’s something silly with this story.
Jakobs has bought 800.000 shares of Kasbank last April, that’s a 5 percent stake in the firm and worth EUR 7 million. After the purchase the shares went up 20% over the past months. A profit of 1.4 million. Nothing new here, it’s public information and mentioned on this site a month ago.
However, this morning a clever journalist was finally connecting the dots. Ladies and gentlemen, we’ve got him. Insider trading. This can’t be a coincidence according to the senior journalist:
- The stock went up after his purchase
- He bought shares on his personal account
- It was a large transaction
- Kasbank is a financial institution, so is All Options
- Allard Jakobs refused to comment
Frankly, Quotenet couldn’t find a smoking gun. They couldn’t find anything suspicious at all. It’s a large step to suggest insider trading based on, well, nothing.