From Matthew Goldstein:
Ali Far and Choo Beng Lee, the former hedge fund traders turned government informants in the Galleon insider trading case, have admitted to engaging in illegal insider trading for many years, according to their cooperation agreements.In the case of Lee, the agreements suggest that he engaged in illegal insider trading while working at Steven Cohen’s SAC Capital, the Connecticut-based hedge fund.
In the case of Lee, the alleged wrongful conduct dates back as far as 1994. In both cases, this would suggest the men engaged in insider trading while working at other hedge funds before setting up their own fund, Spherix Capital, in 2007.
Here is the relevant section of Lee’s agreement (which, oddly, sounds like something we might write in referring to the mothership— “a certain hedge fund located in Connecticut.” Also, and this is surely a coincidence, we’ve been told SAC’s president is out of the country until Monday. So, it falls to someone else— YOU KNOW WHO YOU ARE— to call us and defend a certain someone’s honor):
Posted by guest , Nov 05, 2009 2:56PM
I don't know anything about female hormones.
-Ping J
Posted by guest , Nov 05, 2009 2:58PM
Uh-oh . . . this is going to end badly . . .
Posted by guest , Nov 05, 2009 2:58PM
oh shit
Posted by guest , Nov 05, 2009 2:58PM
Sounds like a lot of people are going to start having heart attacks in swimming pools pretty soon. In the old days we said "Wanna sing like a bird? Let's see if you can fly like one too".
-The Guy CG Stole his bit from
Posted by guest , Nov 05, 2009 2:59PM
Sluts With Nuts Capital is going down.
Posted by guest , Nov 05, 2009 3:00PM
I think we'll find out this is all commonplace
Posted by guest , Nov 05, 2009 3:00PM
@3 sleeping with sharks in formaldehyde will be the new sleeping with the fishes
Posted by guest , Nov 05, 2009 3:00PM
tonight they sleep with the fishes...
sc
Posted by guest , Nov 05, 2009 3:01PM
Anyone else craving some Red Baron pizza right now?
Posted by guest , Nov 05, 2009 3:02PM
Is this going to impact my bonus?
- SAC trader sitting 3 rows away from Mr. Cohen
Posted by guest , Nov 05, 2009 3:05PM
"Choo Beng Lee"??
No, me no Beng Lee, Choo Beng Lee?
Posted by mrpink , Nov 05, 2009 3:06PM
diz is not good.
Posted by guest , Nov 05, 2009 3:07PM
@ 11 is awesome.
Posted by guest , Nov 05, 2009 3:08PM
A disproportionate # of orientals getting nailed for these crimes. seems kind of unfair
Posted by guest , Nov 05, 2009 3:10PM
Me like flashy blue and red thingies.
The Shark's coming home to roost.
Posted by guest , Nov 05, 2009 3:10PM
@14 i know huh?
-asian trader
Posted by guest , Nov 05, 2009 3:10PM
Choo Beng Lee is a wog.
Posted by guest , Nov 05, 2009 3:11PM
#14 = JC?
Posted by guest , Nov 05, 2009 3:11PM
Me Chinese
Me Play Joke
Me put pee pee
in your coke!
oh heeheeeheeeheee ... I arways rauph at that joke
Posted by guest , Nov 05, 2009 3:14PM
@19: ROR!
Posted by Don , Nov 05, 2009 3:14PM
Matt Goldstein at Reuters is awesome for going with this headline and pointing out what was in the complaint. Any chance Lee is going to be the big informer that finally brings Stevie down? He's hard to catch.
Posted by guest , Nov 05, 2009 3:15PM
Although these bums deserve jail, fines, restitution & clawbacks, they are just a part of Mary Schapiro's strategy to deflect public attention away from the real problem...
The naked derivatives market that continues on, unabated, with no changes visible on the horizon.
"Move along people; nothing to see here."
The Guy from Delaware
Posted by guest , Nov 05, 2009 3:15PM
Mr. Cohen is valuable member of the hedge fund community and we take issue with any intimation that he has done wrong. In fact, given his stature in the industry we have just nominated him to a watchdog panel to investigate insider trading.
- The SEC
Posted by guest , Nov 05, 2009 3:16PM
@15/@16
Please put the tin foil hat on!
unfair how? They didn't commit the crimes? or you're suggesting there's implicit racism in what's going down?
Or maybe this is indicative of a systemic Asian problem? Let's face it there are a lot of you wannabees out there.
I'm sure Mr Jeff Chiang has something to say about this.
Posted by guest , Nov 05, 2009 3:17PM
-@22
with due respect, wtf is the 'naked derivatives market'?
Posted by guest , Nov 05, 2009 3:17PM
@23 Sadly, it doesn't sound as ridiculous as it should.
Posted by guest , Nov 05, 2009 3:18PM
Ali Far
Choo Beng Lee
ZVI Goffer
Raj Rajaratnam
????
What's going on in this country?
Who let all these guys in?
--All American Lax Player/Bond Salesman
Posted by Tax Chick , Nov 05, 2009 3:18PM
If everyone is engaging in insider trading, is anyone really operating at an unfair advantage to anyone else? Just askin'
This reminds me of the time the FBI infiltrated the Black Panthers only to discover the Panthers had all left and it was just the FBI having the meetings and shaking down the locals.
Posted by guest , Nov 05, 2009 3:19PM
It won't be long before we find a Zamboni parked next to the Bear Mtn. bridge with a note attached to it.
Posted by guest , Nov 05, 2009 3:19PM
Me Chinese, me not dumb, me hold on to Stevie's bum. He goes toot, I go zoom, that's how I got caught so soon.
Posted by Anal_yst , Nov 05, 2009 3:20PM
@25 beat me to it
Also, for those in CT, be wary where you walk this evening, the Zamboni waits for you...
Posted by guest , Nov 05, 2009 3:20PM
I reaving DB! I don rike you comment!
Posted by Mr. Dennit , Nov 05, 2009 3:20PM
@25 - Just because you say [with due respect] doesn't mean you get to say whatever you want to say to me!
Posted by guest , Nov 05, 2009 3:21PM
Choo Beng Lee will be playing heads up against Phil Ivey next year in the World Series of Poker
Posted by guest , Nov 05, 2009 3:21PM
this just got real serious...drudge sirens now? uh oh
Posted by guest , Nov 05, 2009 3:21PM
Bess,
I have a feeling like, this time he will finally call you. I mean, if he doesn't call you about this, what would it take?
Just sayin'
Posted by Bess Levin , Nov 05, 2009 3:23PM
@36 I don't know. He can't continue to deny me much longer.
Posted by guest , Nov 05, 2009 3:25PM
@29 If he does the whole "suicide is painless" schtick, he's a shitheel.
-Egret F*cker
Posted by guest , Nov 05, 2009 3:25PM
@20 FTW - that was 'effin hiralious!
Posted by guest , Nov 05, 2009 3:27PM
Fox News is reporting that police have found a Zamboni driving through backyards in Greenwich after receieving a distress call from the operator who claimed he was being attacked by Lycans. The operators has not been found and his name has not been released.
Posted by guest , Nov 05, 2009 3:27PM
Steven Spielberg finally has an excuse to make Duel 2: The Zamboni Pony
Posted by guest , Nov 05, 2009 3:28PM
@20 nice!
Posted by guest , Nov 05, 2009 3:29PM
@39 - Agree, @20 was hirarious.
Posted by highlyconfident , Nov 05, 2009 3:30PM
If this escalates to a level as serious as those sirens imply... what would Stevie's escape route be? Clearly no amateur parachuting out of planes only to get caught in a camp ground shit. Underwater subs? Volcano hideout? Moon base?
Posted by guest , Nov 05, 2009 3:32PM
Guest@#25...
What's the difference? Most all of the traded derivatives are naked ones anyway, so it may as well be called the naked derivatives market. That's just what TGFD calls it.
Guest@#24...
I think #14 is being sarcastic, because most everyone except progressives knows that asians generally have no honor, no scruples, and a f*ck-all attitude towards rules, regulations, fair play, etc. You know, "It's all about me and whatever I want. Whatever it takes."
The Guy from Delaware
Posted by guest , Nov 05, 2009 3:32PM
@29 Brilliant, nicely done!
Posted by guest , Nov 05, 2009 3:33PM
@ 20 Call me!
Donna Chang
Posted by guest , Nov 05, 2009 3:34PM
Choo Bung Lee should be ordered to spread the buttcheeks so I can smell those juicy insides.
Stevie C
Posted by guest , Nov 05, 2009 3:35PM
@44: I'm thinking Stevie is already in his underwater palace a la Karl Stromberg.
Posted by guest , Nov 05, 2009 3:38PM
@45 - Delaware is the new nothing - nothing! I close all Chinese restaurant because of you - now how you like it?
Any more Chinese jokes from you?
Posted by guest , Nov 05, 2009 3:39PM
Ali Far stuff like this!
Posted by guest , Nov 05, 2009 3:40PM
Stop tearing down my shitty warl, you god damn Mongorians!
Posted by guest , Nov 05, 2009 3:42PM
@45 That's interesting, I had no idea Stevie's Asian. Makes all the sense in the world.
Posted by guest , Nov 05, 2009 3:42PM
Dont get your ties caught in the shredders boys.
-SAC HR internal memo
Posted by guest , Nov 05, 2009 3:44PM
This whole thing is beginning to unravel. Black Friday tomorrow, you heard it here first.
Posted by guest , Nov 05, 2009 3:44PM
@25 I suspect Delaware was not restricting his comments to Chinese. I think he'd throw in the curry eaters too. Not that I'd wholly disagree with him.
- Fuck. What is the world coming to? moi agreeing with Delaware !!!
Posted by guest , Nov 05, 2009 3:46PM
72 cummings point road is going to self-destruct in 5, 4, 3....
Posted by guest , Nov 05, 2009 3:48PM
@55 Nice try. Your OTM puts will expire worthless.
Posted by guest , Nov 05, 2009 3:48PM
BENGCLOPS vs. Violent Walrus
.
Tonight at Elaine's
.
The Scooper
Posted by guest , Nov 05, 2009 3:49PM
@20 - well done, well done.
Posted by guest , Nov 05, 2009 3:52PM
Why is my groin throbbing and engulfed in flames?
SC
Posted by guest , Nov 05, 2009 3:53PM
Mary Schapiro is a dear friend of mine.
-SAC
Posted by NakedShort , Nov 05, 2009 3:53PM
My grandfather always told me to never trust anyone you can blindfold with dental floss.
Posted by guest , Nov 05, 2009 3:54PM
@naked fucked up, and when it comes to SAC, could've been a lot funnier
Posted by guest , Nov 05, 2009 3:58PM
What do we get for ten dollars?
Posted by guest , Nov 05, 2009 3:58PM
A disheveled and heavily perspiring Stevie bursts unto the trading floor: "TEAM SAC: MAKE LIKE A RECTUM AND GET THE SHIT OUTTA HERE!"
Posted by guest , Nov 05, 2009 3:59PM
Choo Beng Lee is a shitheel.
Posted by guest , Nov 05, 2009 4:03PM
Shitheel@#50...
Close all the chineeze restaurants. The Dept of Public Health will appreciate it.
Shitheel is a good pejorative. As TGFD said earlier, whoever came up with that one should be counted among the great thinkers of our time.
Guest@#56...
Your suggestion that curry-eaters should be "thrown in there" is a good one.
The Guy from Delaware
Posted by guest , Nov 05, 2009 4:05PM
No wonder they kept the temps at 50 degrees F in their trading room. They were feeling the heat!!
Posted by guest , Nov 05, 2009 4:07PM
Looks like most are cutting ties with Choo-Beng Lee, CFA.
Previously a member of the SiTest Solutions Ltd Financial Advisory Panel.
http://tinyurl.com/yesm3c4 [Google cache]
Not so much anymore...
http://sitestsolutions.com/Financial_Advisory_Panel.aspx
Does he get to keep his CFA if he's sent to the pokey?
Posted by guest , Nov 05, 2009 4:08PM
I demaind to knowr ther size of Bess's brists.
Amandar D.
Posted by guest , Nov 05, 2009 4:09PM
It's not racist if your dicks don't touch.
Posted by guest , Nov 05, 2009 4:12PM
Cartwright 4!
Stevie Cohen call..I say you not here..He say curse word..I hang up
Posted by guest , Nov 05, 2009 4:15PM
What the fruck's a frush?
- Booger
Posted by Tax Chick , Nov 05, 2009 4:18PM
Did everyone suddenly start drinking sterno?!
Posted by guest , Nov 05, 2009 4:21PM
I chop suey Reuters.
Choo Ben Had
Posted by NakedShort , Nov 05, 2009 4:21PM
@64 I apologize for not bringing my A game. I will show myself out.
Posted by guest , Nov 05, 2009 4:22PM
@76 the racist comments are lame. stick to zambonis and deep fried oreos.
Posted by guest , Nov 05, 2009 4:25PM
I sharted once and some Choo Beng Lee came out.
CG
Posted by guest , Nov 05, 2009 4:27PM
Why don't we all just hang at KFC until this mess blows over?
PTJ
Posted by guest , Nov 05, 2009 4:28PM
@28/TC, exactly. You can't hold the whole hedge fund responsible for the behavior of a few, sick twisted individuals. For if you do, then shouldn't we blame the whole hedge fund system? And if the whole hedge fund system is guilty, then isn't this an indictment of our financial institutions in general? I put it to you,isn't this an indictment of our entire American society? Well, you can do whatever you want to us, but we're not going to sit here and listen to you badmouth the United States of America.
Posted by guest , Nov 05, 2009 4:29PM
Racism is the new kilring it.
Posted by guest , Nov 05, 2009 4:29PM
@47 I have a thing for Asians. Meet me for a secret rendezvous at the Manhattan offices of the SEC in one hour. I will refer to myself as Wilkinson. The password will be Bosco.
Posted by guest , Nov 05, 2009 4:29PM
@78, I bet you wouldn't be squawking if it was a homophobic comment.
Posted by guest , Nov 05, 2009 4:30PM
@81 blow job *cough* eat me *cough*
Posted by Tax Chick , Nov 05, 2009 4:30PM
I'm not bad, my government made me that way.
Posted by guest , Nov 05, 2009 4:31PM
@Naked, I, for one, am just glad you didn't get arrested today.
Posted by guest , Nov 05, 2009 4:31PM
@ 76,
STFU.
-ronery raotian
Posted by guest , Nov 05, 2009 4:35PM
Where is the nearest swimming pool and what's the best way to force an Asian to have a heart attack?
-Unnamed Connecticut hedge fund industry baller
Posted by guest , Nov 05, 2009 4:35PM
Choo fucked up. Choo rearry, rearry fucked up.
Posted by guest , Nov 05, 2009 4:37PM
OK everybody...look over there!!!
-Global Jew conspiracy coordinator
Posted by guest , Nov 05, 2009 4:38PM
I can already see Bernie rubbing his hands and smacking his lips. "Pretty soon I'll Beng Choo. Ruth ain't got nothing on those ladyboys."
Posted by guest , Nov 05, 2009 4:40PM
@92 - please see @11.
Posted by guest , Nov 05, 2009 4:40PM
Beng Choo's penis > Bernie's
Posted by guest , Nov 05, 2009 4:41PM
I always new Charlie Chan was a Fed.
SAC
Posted by guest , Nov 05, 2009 4:46PM
I enjoy having sex with black men.
Dennis Kneale
Posted by Tax Chick , Nov 05, 2009 4:47PM
Steve-
I choo choo choose you!
Ralph Wiggums
Posted by guest , Nov 05, 2009 4:48PM
You know guys, I think am rich enough, so fuck it. I'm going to enjoy life and my $$$ by clubbing baby seals and negroes. If anyone wants to come, holla back youngins'
-S.C.
P.S. Biff you bald ass is not invited
Posted by guest , Nov 05, 2009 4:50PM
He can't go to jail. AIf one inmate to get a hold of a "Choo-Choo Cherry" Funny Face drink mix packet...
Posted by guest , Nov 05, 2009 4:53PM
I hunt mutant walruses in my spare time.
The Bassness
Posted by guest , Nov 05, 2009 4:55PM
CHOO DID WHAAAAAAAAAT???!!!
~ Mr. Furley
Posted by guest , Nov 05, 2009 4:56PM
I hunt Jewbronis on my own private island.
-Hedgefundus
Posted by guest , Nov 05, 2009 4:57PM
Jolly Ranchers = Joint Ventures
Posted by guest , Nov 05, 2009 5:27PM
To : Guy From Delaware
Isn't it that Delaware is a haven for US tax cheaters?
Do I need to tell the IRS to review your tax return?
Those Asians were US educated thus followed the practices of their corrupt and cheater White dickhead bosses.
NOT GAY from Delaware
Posted by guest , Nov 05, 2009 5:41PM
@91 completely uncalled for.
Posted by Don , Nov 05, 2009 5:47PM
Why is Stevie so silent and not responding to this story. He must be making moves to hide out in one of his 30 toilets.
Goldstein and Dealbreaker are rock stars for bringing out this news.
Posted by guest , Nov 05, 2009 5:57PM
We now know what Choo Beng Lee did with that cash. 50 Cent wrote a song about it: http://www.youtube.com/watch?v=j0e9hzGwKdo
"Ni99a, that watch is nice, that's what Choo bought for me!"
Posted by guest , Nov 05, 2009 6:21PM
WWJCD? (What would Jimmy Choo Do?)
Posted by guest , Nov 05, 2009 6:23PM
@106 Ex-SAC?
And how many SAC losers tried to divert attention by making racist jokes?
Posted by guest , Nov 05, 2009 6:23PM
wait, so they are nabbing him for insider trading 99-04, but on which evidence is this based: a confession, trade record examination, taped phones? so if it's either of the 2 latter guesses, seems like a certain ct hedge fund should be worried, no?
Posted by guest , Nov 05, 2009 6:35PM
A 25 Billion Dollar Secret: The NY Fed, Goldman & The AIG Cover-Up
http://bit.ly/JUQGi
Oops...Friedman got caught...
Posted by guest , Nov 05, 2009 6:36PM
"Accidents can and will happen like the stabbing of you by me"
Fat Tony speaking on behalf of *****
Posted by guest , Nov 05, 2009 8:29PM
@20 LOFRMAO
Posted by guest , Nov 05, 2009 10:01PM
There are two ways on how you can make DB poster's brain go to work:
1. show them cleavage
2. Any minority group involve in ponzi scheme or inside trading.
Solution:
1.More education on Human Anatomy
2.Since it's quite unusual and when it happens it sends shockwave to DB posters, we need more of any minority group involve in financial scandal even if it's only $10 (ten).
Posted by guest , Nov 05, 2009 10:39PM
rockstars roll up in wheelchairs with ak47s
Posted by guest , Nov 05, 2009 11:03PM
@114 you clearly don't read db regularly, and don't know what you're talking about and to address pt 1, how the hell would more edu on human anatomy stop a bunch of males from liking breasts?
Posted by guest , Nov 06, 2009 12:04AM
Insana hired by the big guy = pay back for prior years of tips
Posted by guest , Nov 06, 2009 12:04AM
Insana hired by the big guy = pay back for prior years of tips