For the past few years, bonuses at RBS have been what you call not so great (for good reason of course, which is that whatever money the firm had needed to be put towards on-site saunas and sports bars, so just silence yourselves). RBSGC Managing Director James Glover (apparently known to colleagues though not to his face as “G-Love”), was all too aware of the shit bonus situation, particularly the potential scheme to pay employees entirely in RBS debt and if we’re being honest? He didn’t like it. It didn’t jibe with the ski house in Vermont he was building (which some haters claimed was out of his price range) or the money problems he was having in general. So Jim did what any thinking man would do and came up with a plan– help himself to a bonus.
He did so by having junior employees submit wires that would normally go to a counterparty to pay for trades, and then approving them to, instead, go to his personal account. Jimbo put the plan into action months ago, and hundreds of thousands of dollars later,* it was working out great! And it would’ve continued to keep working out great were it not for the damn chippies running the place and their “internal controls” finding out about the thing and taking issue with it, instead of congratulating G-Love for thinking outside the box. Unfortunately Big J wasn’t expecting to be confronted about any of this, and failed to turn the situation around on them by offering that no one ever told him when he first started working there that this sort of thing is frowned upon (when he was at Drexel Burnham people did it all the time). So now he’s out of there, the matter has been “referred to law enforcement,” and any of you previously contemplating a similar scam should just forget it, because you’ll probably be found out, eventually, at some point, maybe. In related news, if anyone reading this makes the hiring decisions for his/her firm and is looking to award creativity and problem solving, get in touch.
*Obviously he had to go about this slowly so as not to draw attention to the situation and, you know, get caught or something.
Sending wires to yourself? Come on – really? Amateur hour stuff.
- Bernie
haha – i hope the place burns!
he’s also the hairiest man ALIVE.
Next time, go with a second home in a foreign country.
-Charlie R.
@3 except on his head.
-rbsgc employee not fooled by the rug
what a genius.
He totally got the idea from Superman III
His effort was pretty rube-like. Is he under 40 years of age? Sounds like a rookie. Also sounds like an energy related scheme but there have been so many of those in the past like that it could have morphed into some other tradable entity.
I am giving my secretary a bonus right now.
@8 nope, he’s 50+.
I don’t understand why what he did is wrong.
- C. Rangel
@10 rube-like, yes. rookie, no:
http://www.linkedin.com/pub/james-glover/8/62a/893
he might wanna update the profile.
RBS Sucks. And we will figure out how to make it rain.
the problem is, he didn’t set up a fictitious (or even real! take it 1 step further, amateur) shell trading company. personal accounts arouse so much suspicion
Whose genius idea was it to broadcast this farce to the public by getting the authorities involved? How much money are we talking about?
@15 read the post and the answer will be revealed.
RBS bonuses either result in losing your house or going to jail.
@14 seconded. amateur.
Yeah, well, that may be. But at least I never slept with Lumbergh.
Bankers are such thugs and cheaters. That would never happen in professional baseball.
~Mark M
Asterisk, MO
I always mess up some mundane detail.
-J Glover
Doesn’t seem fair to me.
-J Chiang
President, Universe
I’ll be honest with you, I love his music. I do. I’m a Michael Bolton fan. For my money, I don’t know if it gets any better than when he sings “When a Man Loves a Woman”.
@23 nice
Use the Dave Chappelle “white guy excuse” – I didn’t know you couldn’t do that.
Should hold up in court.
He drinks a whisky drink
He drinks a vodka drink
He drinks a lager drink
He drinks a cider drink
He sings the songs that remind him
Of the good times
He sings the songs that remind him
Of the better times:
‘Don’t cry for me
Next door neighbour…’
I get knocked down
But I get up again
You’re never going to keep me down
THEME SONG OF MY LIFE!!
-The glove man
I know something that would make him feel better.
-your friend at Beamers
@26 also known as the george costanaza excuse, and yes, it works every time.
What was this guy doing there? Banking or Trading? Either way, embezzlement is part of the business there.
hundres of thousands of dollars?
thats all he stole? What happened to millions?
Is the economy that bad?
damn! Things are scary.
@17 thanks.
@31 1) as the * points out, I had to be slow and methodical about this. I was planning on doing it for years, so it would’ve be come millions, though not right away because I didn’t want to arouse suspicions.
2) this is rbs. most people would be happy with a ten-spot and a stack of tissues for the JO&C clean up.
-The Glove
There is always money in the banana stand
@34 unless George Michael and Co. burn it down
I heard he also stole some Creedance tapes
@3 knows what’s up.
who will be the first to steal this story from DB?
@38 wsj
@38 rhymes with clusterhock
okay but what does the inside of his ass look like?
-PJ
guy is over 50 (not some 22 year old j-off) and this was the best he could come up with?
Thieves for their robbery have authority
When judges steal themselves.
- lb
Interesting article. Would be interested to find out if anyone bothered to check sources or accuracy. Several of the “facts” can be proven to be false… immediately. Casting doubt on Bess’ sources. As websites and blogs can be brought to court for slander, it may make sense to first confirm ALL the facts.
Interesting article. Would be interested to find out if anyone bothered to check sources or accuracy. Several of the “facts” can be proven to be false… immediately. Casting doubt on Bess’ sources. As websites and blogs can be brought to court for slander, it may make sense to first confirm ALL the facts.
Interesting article. Would be interested to find out if anyone bothered to check sources or accuracy. Several of the “facts” can be proven to be false… immediately. Casting doubt on Bess’ sources. As websites and blogs can be brought to court for slander, it may make sense to first confirm ALL the facts.
@42 He works at RBS, give him a break. The joint isn’t exactly crawling with rocket scientists
Interesting article. Would be interested to find out if anyone bothered to check sources or accuracy. Several of the “facts” can be proven to be false… immediately. Casting doubt on Bess’ sources. As websites and blogs can be brought to court for slander, it may make sense to first confirm ALL the facts.
Interesting article. Would be interested to find out if anyone bothered to check sources or accuracy. Several of the “facts” can be proven to be false… immediately. Casting doubt on Bess’ sources. As websites and blogs can be brought to court for slander, it may make sense to first confirm ALL the facts.
Interesting article. Would be interested to find out if anyone bothered to check sources or accuracy. Several of the “facts” can be proven to be false… immediately. Casting doubt on Bess’ sources. As websites and blogs can be brought to court for slander, it may make sense to first confirm ALL the facts.
Fact Checker – check your posts moron.
44,45,46,48,49,50,
You think this is an interesting article?
@44,45,46,48,49,50– “Would be interested to find out if anyone bothered to check sources or accuracy”
Wondering no longer. I did.
Chat Fecker = Jimbo’s Lawyer
@48-50 : I hope you get a really bad paper cut between your fingers.
44,45,46,48,49,50– welcome G-Love!
@Fact Checker – Away with you!
Do you think Glover uses Turbo-Tax?
glove@44,45,46,48,49,50- tell us which parts of the story are wrong. are you actually a snow-boarder?
Hat Checker
Mat Licker
Slander?? If the G-love don’t fit, you must acquit.
g-love@44,45,46,48,49,50- you are making this so much worse for yourself…
peter popper
Fact Sucker just means he didn’t work alone.
– The Wizard
By the way, slander is a friend-a-mine, ya know….
-Thug
44,45,46,48,49,50- why are you getting so testy, g-love?
Listen here, as CG explains the future of the auto industry, alternative fuels, and how, “by the way,” he used to pump gasoline, “ya know”:
http://www.carlist.com/blog/?p=1343
he’ll get a job at CRT. the greenwich cap guys look out for their own.
@68 after this?
I’ll take him
- B.frank
Dols was doing his Friday scraps cleanup and found da papers. Smoke em outta dat hole Rich
Who Dat!?
As a public service to the turgid and inflamed posters, here is how you post without multi-posting and thus drawing “friendly fire”.
1. Write your post.
2. Click the “Post Comment” button ONE TIME ONLY.
3. Go to top of page and click on the “HOME” tab once.
4. Let the homepage refresh. Wait 60 seconds. Then click the story thread you posted in to see you post.
Dols was doing his Friday scraps cleanup and found da papers. Smoke em outta dat hole Rich
Who Dat!?
44,45,46,48,49,50,
would you say this is an interesting article?
I know its all true and he’ll be G-loved by the guys in the pen.
I know its all true and he’ll be G-loved by the guys in the pen. What a moron!
@44,45,46,48,49,50- take it from me, this was not a wise course of action.
-biff basness
Office Space 2 – RBSGC – Comedic tale of RBSGC Operations employees who hate their jobs and decide to rebel against their greedy Queen
@78 love it
I bet the idiot paid taxes on those bonuses too. What a fool.
T. Geithner
Hey Queen, see what happens when you fuck a GC stranger in the ass?
@81 I fuck him back harder?
-queen e
Did Her Royal Highness have Beefeater Guards march G-Love off the floor to the dungeon?
@78 well done
Did Her Royal Highness have Beefeater Guards march G-Love off the floor as he wept like a young Charlie Sheen w/toupee hanging off?
@85 pretty much
Bess,
This is a second slander case in a week, better ramp up on legal. I hear Carney is an Esq…
@87 yes, second time a crazy has THREATENED db with slander, despite having no case for it whatsoever.
how come carney never gets stories like these? you know, when he’s out “on a crisp summer night, drinking with a broker from merrill who took his martini with a dash of chagrin” or some such?
@89 excellent imitation.
“dash of chagrin”=pink dildo
excellent reportage miss levin.
Sending wires to yourself? Come on – really? Amateur hour stuff.
-LB
@68 “he’ll get a job at CRT. the greenwich cap guys look out for their own.”
true though I think this might be a red flag to them.
Doesn’t seem fair to me.
-J Chiang
morgan stanley/BofA
nobody fucks with da jesus (queen).
You plebes wouldn’t know royalty if it pissed in your mouth.
-P. Jiang
P.S Charles loves the golden showers.
guy was a greenwhich cap lifer, that’s gotta hurt.
The Glove knows how to make that cheddah. Should be promoted to CEO.
@99 he’s the only one there who knows “how to make that cheddah,” albeit through slightly unorthodox ways.
It all went downhill after grinder girl
I’m surprised no one checked Glover’s Linkedin and noticed:
New York University – Leonard N. Stern School of Business
mba , business management , 1980 — 1984
It doesn’t take four years to get a mba… unless you’re fucking retarded.
Jim Glover why did u do it what a fool you are u made a decent salary.
money is the root of all evil. Ted would be disappointed in you.
you did the crime do the time.
Jim Glover why did u do it what a fool you are u made a decent salary.
money is the root of all evil. Ted would be disappointed in you.
you did the crime do the time.
Jim Glover why did u do it what a fool you are u made a decent salary.
money is the root of all evil. Ted would be disappointed in you.
you did the crime do the time.
Jim Glover why did u do it what a fool you are u made a decent salary.
money is the root of all evil. Ted would be disappointed in you.
you did the crime do the time.
If Erin Callan can pull it together and stop crying, she can have G-Love’s job – probably a good fit for her
I’m just talking about fractions of a penny here. But we do it from a much bigger tray and we do it a couple a million times.
A ‘greenwich lifer’ that had to embezzle mere thousands to pay the second mortgage? Methinx not..
@109 he was at greenwich cap/rbsgc for 20 years. so yes, he was considered a lifer. any other facts you need schooling on today?
Hey 101, so unfair ! it can take four years too. I am a FT mom and worker who goes to school at night. I am taking 1 or 2 classes at a time. You dont need to be retarted sometimes is just what it takes LOL! But you are right had I live here in the US my whole life. I would be a Dr now. The guy is a retarded :) !
Maybe his 15 yr old gave him the idea after watching office space
Maybe his 15 yr old gave him the idea after watching office space
[...] Jim Glover AKA G-Love? For those who need refreshing, JG is the guy who we reported almost a year and a half ago had decided to help himself to a bonus after deciding the one awarded to him by management [...]
[...] him say he was grilled for eight hours before they escorted him out of the building. The news was first reported at Dealbreaker after internal whistleblowers called in to report the problem, saying Glover used [...]
[...] Jim Glover AKA G-Love? For those who need refreshing, JG is the guy who we reported almost a year and a half ago had decided to help himself to a bonus after deciding the one awarded to him by management wasn’t [...]
[...] suspended from RBS and turned over to authorities surfaced last January when Greenwich Time and DealBreaker reported Glover felt cashed strapped from the lack of bonus the British subsidized bank was giving in 2009. [...]
No sois derecho. Discutiremos. Escriban en PM, se comunicaremos.
http://www.b4yporn.com/
crawford
[...] always found it odd (and frustrating) that the British subsidized bank, RBS, wouldn’t tell U.S. reporters which authorities they turned the case over to last winter. When we first got the story in early [...]
[url=http://buyacyclovironlinerx.com/#14922]buy acyclovir online[/url] – buy acyclovir online , http://buyacyclovironlinerx.com/#11107 purchase acyclovir
QsV7O7 Major thanks for the blog article.Really thank you! Really Great.