Hello and welcome to this week's installment of the Neo-Market Report. In
addition to bringing you the latest from the floor, Neil Kauvuto and Maria Blumaroono
will have a special report on the Chiatech Insider Trading scandal, and an interview
with Alan Poogleton, Chiatech's Director of Operations. And now, here are Neil
KAUVUTO: Hello and welcome to this week's Neo-Market Report. I am your host
Neil Kauvuto, and as always I'm joined by Maria Blumaroono, who is at the News
Desk with the latest news from the floor.
BLUMAROONO: Thank you Neil. The big story this week has been the discovery
of Insider Trading within the market. In the wake of last week's Neodaq Crash,
it has now been uncovered that prior to the Crash insider trading had artificially
driven up the prices of a number of blue chip stocks, most notably Chiatech
Password Security. Apparently, a number of Neopian Guilds had set up multiple
accounts and collectively purchased massive amounts of stocks. Once this activity
had driven the prices up, unaware speculators had jumped on the bandwagon and
spent millions of neopoints riding what appeared to be a wave of prosperity.
However, once the NSEC (Neopian Securities Exchange Commitee) learned of the
Guilds' attempt to manipulate the Neodaq, corrective measures were taken and
the perpetrators were left virtually penniless.
KAUVUTO: Unfortunately, this has also left innocent stockholders who were unaware
of the Guilds' hoax equally devastated, a consequence which NSEC Chairman Arthur
Lupevitt addressed in a recent statement where he acknowledged being "Acutely
aware of the unfortunate losses incurred by innocent parties," and "apologiz[ing]
for the damage this has caused to [their] financial status." However, he also
asked that innocent stockholders hurt by Committee's action "understand that
what we did was in the interest of upholding right and wrong, as well of a sense
of fairness, on the floor of the Neodaq."
BLUMAROONO: Due to the important nature of the Insider Trading Scandal, Alien
Aisha Vending Company CEO Sentron X has agreed to postpone his visit to The
Neo-Market Report until next week so that we may bring you a special interview
with Alan Poogleton, Chiatech's Director of Operations. Alan, we wish that we
could've had you back under better circumstances…
ALAN: Well Maria, I understand that in life you've got to take the good with
the bad, so I'm here to face the music.
BLUMAROONO: Now Alan, since the NSEC broke the story earlier this week, has
Chiatech been able to determine the level of involvement, if any, of it's employees
in the Insider Trading that resulted in this crash?
ALAN: To be honest Maria, I'd like to believe in my heart that none of the
good folks at Chiatech would be involved in anything like this, and that it
was solely the responsibility of the Guilds. But let's face it; I think it'd
be awful hard to pull off a scam of this magnitude without some help on the
inside. So to answer your question, no we have not determined the extent to
which Chiatech employees were involved, but I'm keeping my fingers crossed that
our people weren't a part of this.
KAUVUTO: However, in all fairness we should point out that a number of Chiatech
employees, including yourself, profited greatly from Chiatech's skyrocketing
value, only to turn around and sell your stock before the crash. Would you care
to address that?
ALAN: Well, as I'm sure you know, I received a substantial interest in the
company when I became Chiatech's Director of Operations. And, like many other
Chiatech employees, once the price really began to take off I took the advice
of my financial advisor and liquidated most of my Chiatech stock so that I could
diversify my portfolio with investments such as mutual funds, bonds, and real
estate. I think it would be ludicrous for someone to make the leap from following
some sound financial advice to being the mastermind financial conspiracy.
BLUMAROONO: So do you see the relationship between the fact that you've made
nearly eight million neopoints in the last three weeks and the Insider Trading
Scandal as merely some sort of coincidence?
ALAN: Aw Maria, you're makin' me sound like a crook over here! Look, I'll admit
that it's a strange set of circumstances which might look a little fishy on
the surface, but I assure you that once the NSEC has gotten to the bottom of
this we'll see who's really to blame. Now, I can't vouch for every single person
at Chiatech, but I know that I certainly had nothing to do with it. So, if I
could profit greatly without being personally involved, I suspect that it's
quite probable that a number of my friends at Chiatech could have also gained
greatly without being a part of this tragic hoax.
KAUVUTO: Well that's going to have to be the last word. For Maria Blumaroono,
I'm Neil Kauvuto saying thank you and good night.