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):
I don’t know anything about female hormones.
-Ping J
Uh-oh . . . this is going to end badly . . .
oh shit
Sluts With Nuts Capital is going down.
I think we’ll find out this is all commonplace
@3 sleeping with sharks in formaldehyde will be the new sleeping with the fishes
tonight they sleep with the fishes…
sc
Anyone else craving some Red Baron pizza right now?
Is this going to impact my bonus?
- SAC trader sitting 3 rows away from Mr. Cohen
“Choo Beng Lee”??
No, me no Beng Lee, Choo Beng Lee?
diz is not good.
@ 11 is awesome.
A disproportionate # of orientals getting nailed for these crimes. seems kind of unfair
Me like flashy blue and red thingies.
The Shark’s coming home to roost.
@14 i know huh?
-asian trader
Choo Beng Lee is a wog.
#14 = JC?
Me Chinese
Me Play Joke
Me put pee pee
in your coke!
oh heeheeeheeeheee … I arways rauph at that joke
@19: ROR!
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.
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
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
@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.
-@22
with due respect, wtf is the ‘naked derivatives market’?
@23 Sadly, it doesn’t sound as ridiculous as it should.
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
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.
It won’t be long before we find a Zamboni parked next to the Bear Mtn. bridge with a note attached to it.
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.
@25 beat me to it
Also, for those in CT, be wary where you walk this evening, the Zamboni waits for you…
I reaving DB! I don rike you comment!
@25 – Just because you say [with due respect] doesn’t mean you get to say whatever you want to say to me!
Choo Beng Lee will be playing heads up against Phil Ivey next year in the World Series of Poker
this just got real serious…drudge sirens now? uh oh
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’
@36 I don’t know. He can’t continue to deny me much longer.
@29 If he does the whole “suicide is painless” schtick, he’s a shitheel.
-Egret F*cker
@20 FTW – that was ‘effin hiralious!
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.
Steven Spielberg finally has an excuse to make Duel 2: The Zamboni Pony
@20 nice!
@39 – Agree, @20 was hirarious.
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?
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
@29 Brilliant, nicely done!
@ 20 Call me!
Donna Chang
Choo Bung Lee should be ordered to spread the buttcheeks so I can smell those juicy insides.
Stevie C
@44: I’m thinking Stevie is already in his underwater palace a la Karl Stromberg.
@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?
Ali Far stuff like this!
Stop tearing down my shitty warl, you god damn Mongorians!
@45 That’s interesting, I had no idea Stevie’s Asian. Makes all the sense in the world.
Dont get your ties caught in the shredders boys.
-SAC HR internal memo
This whole thing is beginning to unravel. Black Friday tomorrow, you heard it here first.
72 cummings point road is going to self-destruct in 5, 4, 3….
@55 Nice try. Your OTM puts will expire worthless.
BENGCLOPS vs. Violent Walrus
.
Tonight at Elaine’s
.
The Scooper
@20 – well done, well done.
Why is my groin throbbing and engulfed in flames?
SC
Mary Schapiro is a dear friend of mine.
-SAC
My grandfather always told me to never trust anyone you can blindfold with dental floss.
@naked fucked up, and when it comes to SAC, could’ve been a lot funnier
What do we get for ten dollars?
A disheveled and heavily perspiring Stevie bursts unto the trading floor: “TEAM SAC: MAKE LIKE A RECTUM AND GET THE SHIT OUTTA HERE!”
Choo Beng Lee is a shitheel.
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
No wonder they kept the temps at 50 degrees F in their trading room. They were feeling the heat!!
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?
I demaind to knowr ther size of Bess’s brists.
Amandar D.
It’s not racist if your dicks don’t touch.
Cartwright 4!
Stevie Cohen call..I say you not here..He say curse word..I hang up
What the fruck’s a frush?
- Booger
Did everyone suddenly start drinking sterno?!
I chop suey Reuters.
Choo Ben Had
@64 I apologize for not bringing my A game. I will show myself out.
@76 the racist comments are lame. stick to zambonis and deep fried oreos.
I sharted once and some Choo Beng Lee came out.
CG
Why don’t we all just hang at KFC until this mess blows over?
PTJ
@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.
Racism is the new kilring it.
@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.
@78, I bet you wouldn’t be squawking if it was a homophobic comment.
@81 blow job *cough* eat me *cough*
I’m not bad, my government made me that way.
@Naked, I, for one, am just glad you didn’t get arrested today.
@ 76,
STFU.
-ronery raotian
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
Choo fucked up. Choo rearry, rearry fucked up.
OK everybody…look over there!!!
-Global Jew conspiracy coordinator
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.”
@92 – please see @11.
Beng Choo’s penis > Bernie’s
I always new Charlie Chan was a Fed.
SAC
I enjoy having sex with black men.
Dennis Kneale
Steve-
I choo choo choose you!
Ralph Wiggums
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
He can’t go to jail. AIf one inmate to get a hold of a “Choo-Choo Cherry” Funny Face drink mix packet…
I hunt mutant walruses in my spare time.
The Bassness
CHOO DID WHAAAAAAAAAT???!!!
~ Mr. Furley
I hunt Jewbronis on my own private island.
-Hedgefundus
Jolly Ranchers = Joint Ventures
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
@91 completely uncalled for.
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.
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!”
WWJCD? (What would Jimmy Choo Do?)
@106 Ex-SAC?
And how many SAC losers tried to divert attention by making racist jokes?
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?
A 25 Billion Dollar Secret: The NY Fed, Goldman & The AIG Cover-Up
http://bit.ly/JUQGi
Oops…Friedman got caught…
“Accidents can and will happen like the stabbing of you by me”
Fat Tony speaking on behalf of *****
@20 LOFRMAO
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).
rockstars roll up in wheelchairs with ak47s
@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?
Insana hired by the big guy = pay back for prior years of tips
Insana hired by the big guy = pay back for prior years of tips