• 14 Jan 2009 at 1:18 PM

Now You’ve Done It. You Pissed Off Steve.

By Equity Private

I am both saddened and outraged to have to tell you that the SEC has brought a civil complaint today against Ramesh Chakrapani in our Corporate Advisory Services Group, charging him with passing on inside information three years ago about a pending transaction on which he worked as a 30 year old vice president.
We are all shocked by this alleged breach of the law and violation of our firm’s compliance policies and ethical standards. This employee has been suspended and we have told the authorities that they will have our firm’s full cooperation in their investigation into this matter.
This is the first time in the firm’s 24-year history that any employee of the firm has been accused of any infringement of securities laws.

Oops.
Steve Schwarzman on Blackstone Insider Trading Trouble: ‘I Am Personally Infuriated…’ [DealJournal]

Comments (15)

  1. 1
    Posted by guest | January 14, 2009 at 1:20 PM

    thank you, please come again

  2. 2
    Posted by guest | January 14, 2009 at 1:25 PM

    not at all surprsing

  3. 3
    Posted by guest | January 14, 2009 at 1:25 PM

    2009 The year of the memo.

  4. 4
    Posted by guest | January 14, 2009 at 1:26 PM

    24 years? Pah! took the SEC 30 years for Made-Off. I’m sure that in another 6 years the skeletons will be out of the closet.
    - Apu

  5. 5
    Posted by aisincl | January 14, 2009 at 1:27 PM

    But not the last I bet.

  6. 6
    Posted by guest | January 14, 2009 at 1:30 PM

    Here’s the guy’s bio from the cached blackstone sit:
    Ramesh Chakrapani is a Managing Director in the Corporate and Mergers and Acquisitions Advisory group and is based inLondon. Mr. Chakrapani has been involved in several transactions, including the sale of CrossCountry Energy LLC to CCE Holdings LLC (a joint venture of Southern Union Company and GE Commercial Finance Energy Services); the sale ofAIG’s direct marketing subsidiary to Omnicom; the purchase of the remaining outstanding shares of Atalanta / Sosnoff Capital Corporation in a going private transaction; the sale ofcertain retail stores and manufacturing assets operated byWinn-Dixie Stores Inc.; the sale of Enron Corp’s interest inEnron Espana Generacion, S.L Sociedad Unipersonal; themerger of WellChoice Inc. and WellPoint Inc. and the sale of Albertson’s to multiple buyers, including SUPERVALU, CVS and a Cerberus-led consortium. In addition, Mr. Chakrapani has been involved in a number of conversion anddemutualization transactions involving healthcare and lifeinsurance companies.Before joining Blackstone in 2001, Mr. Chakrapani worked at Credit Suisse First Boston advisingAT&T Corp. on its acquisition of Tele Communications Inc., Apollo Management with its acquisition of MTL Inc., and Asarco Inc. on its sale to Grupo Mexico S.A. Mr. Chakrapani received a BA in Economics and International Studies from Yale University.

  7. 7
    Posted by guest | January 14, 2009 at 1:31 PM

    Wow Citi really is fucked

  8. 8
    Posted by guest | January 14, 2009 at 1:34 PM

    they’re in season, how about shipping some right to poor schwartzy. apparently eeepps could even fly them back after a weekend junket….
    http://www.joesstonecrab.com/yourdoor//intro.html

  9. 9
    Posted by guest | January 14, 2009 at 1:34 PM

    What really pisses Steve off is that RC a) is a fellow Yalie and b) failed to give Steve his carry on the trade.

  10. 10
    Posted by guest | January 14, 2009 at 1:35 PM

    Vikram, Ram Raju @ Satyam and now Ramesh
    Tsk, tsk…you have disappointed us all.
    -Team Brown

  11. 11
    Posted by guest | January 14, 2009 at 1:57 PM

    Too jew throwing indian under bus, didn’t read.

  12. 12
    Posted by guest | January 14, 2009 at 2:39 PM

    Hell hath no fury like Crab Hands scorned.
    @11 – wow

  13. 13
    Posted by Private | January 14, 2009 at 2:41 PM

    @1- That’s what she said

  14. 14
    Posted by Garuda | January 14, 2009 at 2:57 PM

    Would someone let Steve know that use of the word “shocked” in that context is reserved for Claude Rains.

  15. 15
    Posted by guest | January 14, 2009 at 5:12 PM

    you show me an Indian M+A VP in an I-Bank and I’ll show you a father-in-law or uncle with a new maroon Lexus sedan

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