It’s a classic example of political persecution: a billionaire entrepreneur and owner of the Dallas Mavericks who financed an antiwar film and a landmark 9/11 documentary is the target of an SEC civil suit alleging insider trading.
So obvious and egregious is the persecution of Cuban, the New York Times wrote on November 17: “Did Mark Cuban, the Internet entrepreneur turned owner of the Dallas Mavericks basketball team, and would-be buyer of the Chicago Cubs, violate insider trading laws in a particularly egregious fashion? Or is he the victim of a political hit job because he helped finance a movie that was scathingly critical of President Bush?”
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As the New York Times points out, Cuban may have been targeted not so much for his financing of Brian De Palma’s antiwar movie, Redacted, but rather for his involvement with another controversial film: Loose Change.
“A person close to Mr. Cuban provided me with a copy of an e-mail message said to have been sent by Jeffrey Norris, an S.E.C. lawyer in the Fort Worth regional office,” writes Floyd Norris (no relation to the SEC lawyer) of the New York Times. “This e-mail message seems to have been sent after an exchange in which Mr. Norris complained that Mr. Cuban had financed a movie called ‘Loose Change’ that discusses the president’s actions relating to Sept. 11.”
In the email sent to Cuban, Floyd dismisses the viewpoint presented in the documentary as a “conspiracy theory” and accuses Cuban of “smearing the good name of a patriot like President Bush.” He then promises to send the email to Christopher Cox, the chairman of the SEC who was nominated for that position by Bush. Although there is no actual evidence, it appears the outraged Mr. Norris may have provided the SEC with the idea of going after Mark Cuban for daring to declare his intention of financing Loose Change, not for any serious criminal behavior in regard to stock trading.









