There have been a number of other cases that vary on the theme of insider trading. A few years ago, several people who work for the company that printed BusinessWeek magazine started tipping their friends about the stocks that were touted in the Inside Wall Street column. These stocks have a tendency to spike up when the magazine hits the street. By buying the shares before hand, the printers were making a quick profit. That is, until they got turned in for a bounty.
Some people say insider trading is a victimless crime.
That may be the case. But using information that has not been made public is against the law. Until that changes, you better be careful about acting on a hot tip. He just might rat on you if he's not part of the deal.