In a spirited discussion on MSNBC’s Velshi & Ruhle program on May 15, 2019, Tom Ajamie discussed how President Trump’s tweets drive the financial markets and the potential legal jeopardy for Trump and people in his inner circle.
“Look, he can move markets,” said Ajamie. “He is the most powerful man in the world, and everyone listens to how he speaks,” he said.
Tom went on to say that the president does have some immunity, but also questioned the extent to which family members and business associates may be implicated for insider trading based on confidential information that may have been passed to them in discussions with the president.
While the President’s tweets are not like those of a CEO who is bound by strict disclosure rules, Tom also referred to similar tweets by Trump in 2018 regarding Boeing and Lockheed Martin which impacted the share price of those companies, albeit in the short-term.
Whether any evidence of wrongdoing will emerge remains to be seen. Like many others, however, Tom expressed his concerns over the President’s indiscreet tweets. Moreover, Tom is widely recognized for his expertise in high-profile securities fraud cases, having recovered hundreds of millions of dollars for investors in securities class action litigation.
You can watch Tom’s appearance on MSNBC’s Velshi & Ruhle program here.