$$$ A major insider-trading investigation has led to unusual collateral damage on Wall Street. In October, Wall Street trader Danielle Chiesi was among several individuals arrested in a high-profile insider-trading case. One of her first calls from FBI offices was to her former fiance, William Bischoff, chief executive of FTN Equity Capital, a Wall Street research firm. What followed was a series of events that led to Mr. Bischoff being bounced from his CEO post amid an internal investigation of his activities, and his highly regarded research firm being shuttering this week. “They killed my business because of my relationship with Danielle,” Mr. Bischoff contends. FTN’s parent company said in a statement that FTN Equity was closed because it no longer was a “strategic fit.” On the day of Ms. Chiesi’s arrest, Mr. Bischoff says, he informed the compliance department of his firm’s parent, First Horizon, about his relationship with Ms. Chiesi, which had been intermitent since 2005. First Horizon, the Memphis, Tenn., banking parent, launched an internal investigation. Several years of emails, instant messages, trading records and personal tax returns were examined, he says.Within two weeks, a Wall Street blog item was posted discussing the fact that Mr. Bischoff, 50 years old, had previously been involved with Ms. Chiesi. [WSJ, DealBreaker (said mysterious, unnamed blog)]
$$$ Falcone makes a killing on new Credit Fund launch [CTNews]
$$$ Life after DoubleDown. [Folio]
$$$ Jim Chanos: “Greece is always said the country of my ancestors has long been a society of many chiefs and no Indians as someone once said. They’ve got some real problems that they don’t even want to fess up to themselves. Whether the EU does anything to help them out, I don’t know.” [CNBC]
$$$ Dear Greenlight Groupies:
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How big a moron do you have to be to write about your great pride in working at Trader Monthly, the most embarrassing magazine in publishing history?
@1 Sounds like you’re jealous that the Trader Monthly staff never let you into the parties.
we are getting too big for our own britches
@3 sorry, no. Susan Pulilam has ripped off from dealbreaker on multiple occasions (ex: the quadrum capital story). seems like the least she could’ve done was name ‘the wall street blog,’ since she obviously reads it (and lifts material from it) regularly.
@3 how so? b/c db very gently suggested it wouldn’t have killed the wsj (and actually would’ve been nice for its readers, so they could’ve seen the original story) to name which blog the report originated on?
Jim Chanos is right. I am an Indian software engineer and am finding it very hard to get visa to go work in Greece
Dealbreaker should sue the WSJ for stealing their intellectual props (reporting on Galleon).
Bess – we know you were first on parts of that story.