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Robbie Stamp — news, coverage & facts — IJR

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Photo: U.S. Department of Justice — Wikimedia Commons / Wikimedia Commons
Business
Volkswagen Engineers Charged in Rivian Insider Trading
The U.S. Department of Justice has charged two Volkswagen engineers, Michael Stamp and Marcus Plank, with securities fraud for insider trading tied to Volkswagen and Rivian’s joint venture, alleging they profited over $300,000 by buying Rivian stock and options on information about the project codenamed “Project Climb” before public announcement. Investigations note that Stamp and Plank sought illicit advantage despite knowing it was illegal, with Stamp researching insider-trading statutes days before the deal and a relative of Plank inquiring about punishment, as prosecutors underscore that such actions undermine fair markets and investor trust amid Rivian’s 23% stock rise following the announcement and Volkswagen’s investment plans moving up to $5.8 billion.
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Facts from Wikidata (CC0).

Robbie Stamp is the former CEO of The Digital Village, a position that came about partly because of his friendship with author Douglas Adams, whose works inspired the site. Stamp was also the executive producer of the movie version of The Hitchhiker's Guide to the Galaxy.

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