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America's 10 Highest-Paid CEOs of 2011 (and How They Earned It)BusinessWeek reports that Joe Dondero may win General Electric Co.'s (NYSE: GE) CNBC's Million Dollar Portfolio Challenge. That's interesting because this day trader has had complaint letters about his conduct with the National Association of Securities Dealers (NASD) and other contestants complained that he was trading small cap stocks in the contest -- which they suspect he was manipulating in his real trading.
The original scandal with the Million Dollar Portfolio Challenge was that some traders were using a flaw in the contest to do what mutual funds did a few years ago -- use their knowledge of what happened to stocks after the market closed to pack their portfolios with "winning" stocks. CNBC's Million Dollar Portfolio Challenge software enabled participants to engage in this late trading.
Dondero did not do this. But since he was the top finalist who refrained from such late trading, he is in line to win. That is unless CNBC decides to award the $1 million to the next best performing contestant with a clean record.
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