Carter can invest his own personal money anywhere he deems fit. He owes no fiduciary duty to anyone butt himself as to his own investments. Just like the CFO of Intel can buy AMD stock for his personal portfolio. Or a Ford employee or CEO can buy Chrysler stock or bonds for his personal account. And a dude who sits on the Boards of both Ford AND Chrysler can invest in neither, one, or both as he deems fit for his personal investment interest. He owes no obligation or duty to either company insofar as his personal investing.
It is his money and he can invest it wherever he wishes, even in a company directly adverse to the interests of a company he is management of. Nothing illegal or even wronGGG about that.
Just because you are an employee - even the top executive of a company doesn't obligate you to buy shares in that company nor refrain from buying shares in a competitor. I guarantee you that Bill Gates owns some Apple stock and Steve Jobs owned some Microsoft stock. This is neither a CONflict of interest nor double-dealing/self-dealing.
Other things might be, but this is nott one.
These is a basic, Investing 101 information thing that ought to be known to anyone investing in individual stocks, most especially penny stocks.
In the pennies and subbies, it is common for management to engage in what appears - or even is self-dealing - butt which can be nontheless legal. Then shareholders complain that 'he can't do that' - Oh well, yes he can. And its legal.
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