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08 Mar 2011 10:39

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Biz: Hey, insider trading fans: Keep an eye on this dude’s trial!

The trial of Raj Rajaratnam, the founder of the Galleon hedge fund, starts today. Raj reportedly made $45 million in illicit profits – the worst case of insider trading in a generation. source
Posted by Ernie Smith • 0 Comments • Permalink

08 Feb 2011 22:36

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Biz: How to (reportedly) destroy evidence, according to an insider trader

  • Oh it’s easy. You take two pairs of pliers, and then you rip it open. Put ’em into four separate little baggies, and then at 2 a.m…. 2 a.m. on a Friday night, I put this stuff inside my black North Face jacket, … and leave the apartment and I go on like a 20-block walk around the city … and try to find a, a garbage truck. And threw the @*^! in the back of like random garbage trucks, different garbage trucks … four different garbage trucks.
  • Hedge fund manager Donald Longueuil (reportedly) • In a series of messages explaining how he got rid of key evidence in an insider trading case. The details, from a government complaint, were unsealed today. He reportedly trolled the streets of Manhattan looking for a way to throw away a bunch of documents, including a flash drive and two external hard drives. So he chose to destroy them and throw them away in separate garbage trucks in the middle of the night. Sounds like our kind of party. Too bad the guy who he reportedly explained this to was cooperating with authorities. Oops. source
Posted by Ernie Smith • 0 Comments • Permalink

30 Apr 2009 20:36

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Biz, U.S.: How much power did renegade hedge funds hold over Chrysler?

Posted by Ernie Smith • 0 Comments • Permalink

30 Apr 2009 20:24

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Biz, U.S.: Obama holds no love for Chrysler-bankrupting hedge funds

  • A group of investment firms and hedge funds decided to hold out for the prospect of an unjustified taxpayer-funded bailout.
  • Barack Obama • In comments about today’s epic Chrysler chapter 11 bankruptcy filing. Further sticking the knife into the hedge funds and investors, who dispute Obama’s claims, “They were hoping that everybody else would make sacrifices and they would have to make none.” • source
Posted by Ernie Smith • 0 Comments • Permalink
 
 
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