The London-based hedge fund, Moore Capital, was one of the firms raided by the City watchdog the FSA, the BBC has learned. One person at Moore Capital and five other City workers are being held. Those arrested are suspected of taking part in a long-running insider-dealing scheme. The arrests came after 16 addresses were searched in a joint probe by the Financial Services Authority (FSA) and Serious Organised Crime Agency (Soca). Documents and computers were seized from premises in London, the South East and Oxfordshire. It is the FSA’s biggest operation against insider dealing.

Update: A suspect and statement from Moore, via the WSJ:

Among the suspects arrested Tuesday morning was Julian Rifat, a London-based execution trader for Moore Capital, according to people familiar with the matter. Mr. Rifat couldn’t immediately be reached for comment.

In a statement Tuesday, Moore Capital, a prominent New York-based hedge fund with about $14 billion in assets under management, said U.K. authorities had executed a search warrant for documents related to an employee on its London equity-execution desk. Moore said the investigation doesn’t involve any of the hedge fund’s capital and that the firm “is cooperating fully with the FSA in its investigation.”

28 comments (hidden to protect delicate sensibilities)
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Comments (28)

  1. Posted by guest | March 23, 2010 at 2:02 PM

    At least Europe knows how to deal with dangerous hedge fund types.

  2. Posted by Anonymous | March 23, 2010 at 2:04 PM

    “Moore Capital London Office Raided, At Least On Employee Arrested”

    You mean One Employee Arrested… getting sloppy Bess.

  3. Posted by Bess Levin | March 23, 2010 at 2:18 PM

    @2 yes, leaving out an ‘e’ is indicative of “getting sloppy.”

    oh, and blow a goat.

  4. Posted by Anonymous | March 23, 2010 at 2:23 PM

    What am I bid for Trinchera Ranch?

  5. Posted by Goat | March 23, 2010 at 2:36 PM

    @3 – Great advice, Bess!

  6. Posted by Anonymous | March 23, 2010 at 2:55 PM

    Julian Rifat wat up?

  7. Posted by Anonymous | March 23, 2010 at 2:56 PM

    Julian Rifat wat up?

  8. Posted by Anonymous | March 23, 2010 at 3:01 PM

    @2 Bess told your troll a$$ off! You go girl!

    Nobody puts Bess in the corner!

  9. Posted by Goat "The Real Deal" Goat | March 23, 2010 at 3:04 PM


    Filthy fucking imposter.

  10. Posted by Anonymous | March 23, 2010 at 3:04 PM

    “Blow a goat” is an imperative. It is not advice.

  11. Posted by Anonymous | March 23, 2010 at 3:23 PM

    @2, dude you are a major fag. In fact your comment is so lame that simply reading it making take an extra dose of estrogen.

    – Andrew Tong, SAC

  12. Posted by Anonymous | March 23, 2010 at 3:34 PM

    Would like to making fuck, BERSERKER!

  13. Posted by glitchblip | March 23, 2010 at 3:51 PM

    BL hun, give a piece of your mind to DB web folks. They are way past ‘getting sloppy’.

  14. Posted by Seaman Bodine II | March 23, 2010 at 4:06 PM

    wow it’s just like Fred Claus

  15. Posted by Anonymous | March 23, 2010 at 4:07 PM

    roger moore blew goats in live and let die

  16. Posted by Investorcluzo | March 23, 2010 at 6:28 PM

    1) did they find any “unusual” items in his office? just askin’
    -J. Gundlach

    2) who needs insider trading in this market, just go long futures contracts – up 17 of the last 20 days…don’t make money – print it!

    3) bessy – I’ve had it with your IT dept. I’ve got a team of monkeys that will work for half of whatever you’re paying the current jokers! for the love of pete, get it fixed!

  17. Posted by Anonymous | March 23, 2010 at 6:43 PM

    Should just shut down this site once and for all instead dying this slow miserable death

  18. Posted by Death | March 23, 2010 at 7:07 PM

    Oh for the love of GOD I should trade options based on whether every time I click this site I actually get a response. No excuse for this shit.

  19. Posted by Anonymous | March 23, 2010 at 7:13 PM

    Cluzo, please do not refer to our friends from the subcontinent as “monkeys.” Or macacas.

  20. Posted by Anonymous | March 23, 2010 at 8:34 PM

    do the other breaking media sites have as many issues ad this one?

  21. Posted by Bess Levin | March 23, 2010 at 9:00 PM

    @20 yup, all of them. it’s a bucket of fun around the breaking media office these days.

    @18 you should.

  22. Posted by Anonymous | March 23, 2010 at 11:48 PM

    @19 – hardly. My curry-munching brethren would never fuck it up so spectacularly. Have you even googled “Nick Scholl”. This site’s death is 100% hipster douche, ambiguously straight, skinny jeans and converse-wearing, obscure opera enthusiast, technologically incompetent moron induced. In other words – you people.
    Thank you, come again…

  23. Posted by Anonymous | March 24, 2010 at 12:05 AM

    @22 “In other words – you people.” wait what? wtf are you talking about? you think DB readers are hipsters? they’re wall street white boys. buy a clue.

  24. Posted by guestapo | March 24, 2010 at 5:47 AM

    @19 apu. What are you trying to say? Is Nick the author of this abomination? If he is can we send Israeli’s with British passports round to take care of him.

  25. Posted by Anonymous | March 24, 2010 at 5:48 AM

    @24 was meant for @22

  26. Posted by Anonymous | March 24, 2010 at 5:57 AM

    @22 i see where you’re going. This guy is “web designer,” nice. Can we get a confirm he’s responsible for this mess. Why doesnt DB management just throw out thus unscalable garbage?

    Nick’s site is

  27. Posted by eye | March 24, 2010 at 12:18 PM

    one deutsche bank guy is involved as well–just FYI

  28. Posted by Offices in London | October 17, 2010 at 9:21 PM

    I think this band is far more bigger than those who were arrested