Flickr: Creative Commons by B D Solis

Owner of the National Basketball Association's Dallas Mavericks Mark Cuban may soon have to watch basketball games from inside a prison cell and not in the comfortable seats of Dallas Marverick Stadium. Cuban has been charged with insider trading relating to sales of Mamma.com. According to CNN Money:

The SEC, Cuban sold 600,000 shares of Internet search company Mamma.com in June 2004 using non-public information. Cuban is accused of calling his broker and instructing him to sell all of his stock from the Mamma.com after receiving confidential information from the company.

The SEC said Cuban knew the stock price was about to fall.

The next day, the stock fell 9.3%, and Cuban avoided losses in excess of $750,000 by selling stock the day before, the SEC report said.

"As we allege in the complaint, Mamma.com entrusted Mr. Cuban with nonpublic information after he promised to keep the information confidential," said Scott W. Friestad, Deputy Director of the SEC's Division of Enforcement. "Less than four hours later, Mr. Cuban betrayed that trust by placing an order to sell all of his shares."