Greenwich-based Level Global, which manages around $4 billion, was founded in 2003 by former SAC Capital trader David Ganek. Stamford-based Diamondback, which was founded in 2005 and manages over $5 billion, is headed by SAC alum Richard Schimel and other former SAC managers).
Diamondback has not had anything to say publicly about the matter, while a Level Global spokesman issued this nonchalant statement:
“We can confirm that agents from the Federal Bureau of Investigations visited our offices this morning as part of what we believe to be a broader investigation of the financial services industry discussed in media reports over the weekend. We are cooperating fully with the authorities and, at the same time, we are fully operational and continue to work diligently for the benefit of our investors.”
This is the way the world ends
Not with a bang but a whimper
Wow! I didn’t see that coming.
Stevie better get the Jet fired up. He is next.
I’ve told our receptionist to call me if two fresh faced eager beavers show up at our entrance.
It’s Level Global, but Global Level does actually strike me as a better marketing name…
Or to just call if she wants to get a couple of…ahem…things off her chest.
Two beavers are better than one.
Definitely saw this coming.
-UBS Analyst
“advanced pat-downs” optional
As a Liberal, I find the FBI’s actions disgusting, bigoted and shameful!
After all… Inside Trading along with Financial Chicanery and Extortion plays an intricate part of certain group of people and religion from the Middle East’s Rich and Celebrated Golden Cultural Heritage.
Hence, as long as the perpetrators are of “Chosen” decent they are not committing a crime but actually enriching through “Cultural Diversity” the life’s of the victims.
Hope the Feds puke every time they see a mirror as the should truly be disgusted with themselves.
Raided or showed up to interview -very different? Raiding means they’re wearing their fucking windbreakers with leg holsters and have warrant(s) -arrest or search. Big difference here guys
Two beavers are better than a hand in the bush, no?
Dani Chiesi’s f**k list is about to exceed that of King Dong Tiger Woods
I think its fair to classify it as a “raid” when they show up with court ordered search warrants which is what the WSJ story said they did.
JT Marlin > SAC spin-offs
apparently the FBI got it’s hands on one of the last remaining cases of 4 Loko over the weekend. Str8 wylin’
WSJ called it a raid
Since I have started my new gig at GS under Lloyd I will find out the details. We can all meet at Minnettas this evening to discuss. Maybe u can inform me why UBS sucks so bad.
My anus is asploded!
Anyone wanna go on a road trip? i’m firing up the RV, gonna get in a tour of America. Gotta get outta dodge for a while…..
- R. Schimel
Galleon was not only one cheating in the TMT space as it seems… Ganek is looking like another Raj… or those moron loch capital twins from Boston… why I am not surprised by this news…
front or back entrance?
I wonder how many harddrives are getting swapped out in Connecticut today?
McSweeney!!!!
Wonder if anyone at SAC knows the definition of “ranging fire?”
was there corn in the deucage?
YES, dodged the raid rounds again boys….err girls…err boys..ah.
wasps getting raided. i prefer the smack and stomp.
We got no food, no jobs, no insider trading tips…our PETS’ HEADS ARE FALLING OFF
Just a heads up; use lyrics from some self-loathing emo song to write on your hood instead of a movie soundtrack.
-Samuel Israel III
Hide ya kids, hide ya wife, hide ya husband cuz tha FBI and SEC are rapin’ errebody out here!
These guys must be professionals– how else they know I got gas?
Schimel, Ganek and McSweeney don’t sound very WASPy to me…
What’s a hard drive?
I’m just gonna sit by the bar, put out the vibe….
- R. Schimel
If they came in both could it be classified under DP?
How much of Stevie’s money is with these clowns?
“I had the most absurd nightmare. I was poor and no one liked me. I lost my job, I lost my house, Penelope hated me and it was all because of this terrible, awful Negro.”
-louis
Will need a Boeing C17 to fit the Zamboni in.
Diamondback, Finally!
YOU’RE A DEAD MAN VALENTINE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Diesel7, I normally don’t call people out unless they’re OptionsTrader or TGFD, but you have used the same lame comment for the past 2 weeks. Add value or stop commenting.
Diesel7, I normally don’t call people out unless they’re OptionsTrader or TGFD, but you have used the same lame comment for the past 2 weeks. Add value or stop commenting.
Do they make jumpsuits in fleece?
Dear oh dear. Having SAC on your resume is quickly turning into a liability:
http://online.wsj.com/article/SB10001424052748703531504575625101727862996.html?mod=WSJ_hp_LEFTopStories
“Joseph F. “Chip” Skowron III was in a hurry to try his hand in finance, such a hurry that he quit a prestigious Harvard University orthopedic-surgery residency to begin a career trading health-care stocks.”
….
“With the big jobs came a 10,190-square-foot home in Greenwich, Conn., whose value was assessed in 2010 at slightly less than $6 million.
Dr. Skowron traveled in elite political and social circles, as a major donor to John McCain’s 2008 presidential campaign, according to campaign finance records, and a member of the exclusive Monticello Motor Club, an automotive resort and track outside of New York City. The club’s sign-up fees start at $25,000 and among the members are racer Jeff Gordon and comedian Jerry Seinfeld, the president of the club said.
Along the way, the 41-year-old husband and father amassed a collection of luxury cars that has included a blue Ferrari 458 and a black Porsche Cayenne, according to state records.”
….
“…In 2001, three years into his studies, Dr. Skowron decided to leave.
That year, Dr. Skowron joined SAC Capital, where he spent less than a year before moving on to Millennium in 2002.
“He thought he could use some of medical knowledge and insight into new products and new companies in a way that would be beneficial,” said Robert Hurford, an orthopedic surgeon in Jacksonville, Fla., and former residency colleague at Harvard.
In 2003, FrontPoint, which was founded by former executives of Tiger Management and Soros Fund Management, added an investment team to focus on health-care-related stocks.
Dr. Skowron and two former SAC colleagues were hired to run it.”
Diamondback has valet parking at their building. Do you think the FBI had someone park their cars for them and if so, did they ask the receptionist at Diamondback to validate their tickets after the raid?
Wow, all that modern art collateral BOA is holding just devalued by 40% as disposable income used to buy it will now be re-directed to attorneys fees.
Definitely.
Definitely.
I cry when I think about it.
B. Moffat
But what is their fee structure?
-Izzy Englander
Franklin and Marshall College changing their Wiki Notable Alumni list in 3…2…1….
http://en.wikipedia.org/wiki/Franklin_%26_Marshall_College
As if some guy with a Franklin and Marshall degree and no grad school could outperform the market without cheating….. HA!!!! as if McSweeneys with their Clark degree could know something about Intel no one else did without cheating… As if Steve Cohen wasnt paying out big bribes. the rogues are all out of business and going to jail!!!!!!!! Level’s personnel will be out of work or worse….