As
their being charged in the Feds’ massive insider trading case would seem to suggest, former SAC Capital traders Donald Longueuil and Noah Freeman may have had a somewhat elastic view of securities laws. Should the accusations hold up, the two men ought to be punished accordingly. Today though, we’d like to put Freeman on trial for something far worse: his betrayal of the one guy who was always there for him, who literally got Freeman out of bed in his darkest days. A crime within a crime, if you will.
It’s already been widely known that Longueuil and Freeman (whose name will be interchangeably used with ‘Judas’ for the purpose of this story) were both colleagues and friends from SAC Capital. But they knew each other well-before they took their gigs at the hedge fund and their friendship ran much deeper than being casual buds. In 2002, they met “through a shared interest in ice skating” and competed together in Massachusetts. Noah helped Don get a job in Connecticut at Empire Capital in 2004 and the two remained close even despite the distance. When Judas got married in 2009, it was Don who served as best man at his wedding in Maine, standing beside Freeman as he watched his wife to be walk down the aisle, “smiling,” it’s noted, because he was so happy for his friend. It’s a moment that almost didn’t happen because not too many years earlier, Freeman was an emotional basketcase, having been dumped by a previous fiancée. Who helped him “pick up the pieces”? His best buddy Don, of course.
Mr. Freeman later told co-workers he couldn’t have made it through the time without him. “I needed Don to get me out of bed this morning,” he said at one point, according to the person familiar with the situation.
AND HOW DID JUDAS REPAY THIS ACT OF BROTHERHOOD? By cutting the best deal possible for himself when the Feds came a’ calling, agreeing to secretly tape the person who was not just his colleague but his closest friend. And in so doing, committed a crime far more serious in nature than the one he was setting up Longueuil to get caught committing (see table below**). And whereas someone else might’ve made a halfhearted attempt to incriminate his buddy and then gone back to the government and said he couldn’t get anything, Judas made sure.
During their meeting, on Monday Dec. 20, Mr. Freeman tried at least four times to get his friend to admit he traded on inside tips, according to transcripts: “We both did, didn’t we?” Mr. Freeman asked, according to the transcripts.
“Yeah,” Mr. Longueuil said.
What did Freeman get in exchange for selling his friend down the river by making him say out loud, STEP BY STEP, exactly how he destroyed evidence of the insider trading they both took part in? Permission to go on vacation.
At Mr. Freeman’s plea hearing, prosecutors and a judge said Mr. Freeman could travel in coming months to Puerto Rico and the U.S. Virgin Islands, where he plans to attend triathlons with his wife.
Someone might say to Noah, “I hope you crash your bike and break your two front teeth, while you leave your former friend in the trenches taking grenades, you selfish son on of a bitch.” We’ll just leave it at this: Good luck finding another dude who will dry your tears.
Manager Took Down Best Friend In Insider Trading Case [WSJ]
**In descending order:
>>Murder
>>Stabbing your best friend in the back
>>Securities violations
“Coddled, preppy educated idiot can’t cut it honestly, fails to understand how incentives work”>>> my headline
I hate to play the role of grammar police, but phrases like “a shared interest in ice skating” should always be followed by “not that there’s anything wrong with that.”
Did they attend the same temple?
Not funny. Dude was there to spoon with me when she left. I love him, man.
-NF
Not funny. Dude was there to spoon with me when she left. I love him, man.
-NF
Source: several tear-stained 3×5 cards found in Freeman’s jacket pocket, apparently for use in his best-man’s toast at the 2/26 nuptials of his good friend, Longueuil.
“I’d catch a grenade for this guy…well, not really. I probably wouldn’t even resist a plea deal in return for wearing a wire to ensnare him, but I still love him and his beautiful bride…”
you have got to be f£”$ing kidding me–
“And Mr. Freeman obtained a guaranteed two-year, $2 million contract from SAC plus 20% of profits generated in his portfolio, say people familiar with the matter. ”
I was feeling sorry for them up until that.
There’s a Losers section in the Pro edition of The News of the Weird…
2 bros 1 cup
2 bros 1 cup
2 bros 1 cup
that’s a standard PM contract at SAC. but it’s funny that that’s the part of this that outrages you, you greedy bastard.
that’s a standard PM contract at SAC. but it’s funny that that’s the part of this that outrages you, you greedy bastard.
that’s a standard PM contract at SAC. but it’s funny that that’s the part of this that outrages you, you greedy bastard.
This new piece of information changes the casting quite dramatically.
Noah Freeman- Jake Gyllenhaal
Donald Longueiul- Heath Ledger (with CGI credit to Watson)
May God’s wrath descends, and the world becomes round again, rather than flat! May my former friend realize his originally obscure identity as a mere defending street against the English colonizers! Beware Ozymandias, beware! If I come to power one day, surely I will follow unfalteringly the foot steps of Andrew Jackson, exterminating these unsatisfying and heinous vermins first and foremost, breaching the seemingly unbreakable pillbox of the shameless friends, advocating the glory of justice, and spreading the merrying news of equality and happiness!
So help me, God!
D. Longueuil
“You know, it takes a lot of courage to get up here and do something you KNOW people will make fun of!”
“Mr. Longueuil is health-concious… and complained repeatedly about tenants who smoked on their balcony a floor below him, according to people familiar with the matter.”
Reason enough to throw this d-bag in Federal prison IMHO.
Heath never betrayed Gyllenhaal. He just couldn’t give him the love he wanted.
Suppose your family does not like bread. Suppose they like cigarettes?
Aha! The mystery of who was sporting the Patagonia that night is solved(as well as her need to lawyer up):
“At 2 a.m., a few hours after the Journal article was published, Mr. Longueuil left his New York apartment with another person, according to the complaint against him. He walked 20 blocks and dumped mangled pieces of computer drives in four separate garbage trucks, according to the complaint.
The person who accompanied him was his fiancée, Ms. Mudgett, people familiar with the situation say. “
Just to be clear, is that 2 years at 2mm per year, or 2 years at 1mm per year?
-Guy who gets confused by multi-year contracts
there is a light and it never goes out
fags
there is a light and it never goes out
fags
1. Focus, ADD boy. 2. Christ on a crutch it wasn’t a Patagonia it was a NORTH FACE.
1. Focus, ADD boy. 2. Christ on a crutch it wasn’t a Patagonia it was a NORTH FACE.
Your ability to trace any situation back to two guys blowing each other is impressive.
Insults and All Caps in one BL post? I’m in.
- Not Confused Commentator but someone else now furiously masturbating.
It was short track speedskating not ice skating, VERY different. Get the facts right.
Fantastic article Bess. I’ve been off the week but checked in and as I expected, I’ve been rewarded for doing so.
The North Face fleece is the most mentioned accessory to this crime. Caps
were necessary.
Pikers.
I thought he was wearing the North Face, ergo, she threw on the Patagonia, no? She wore the Land’s End? No wait, I bet it was a Belstaff. On $2mm a year, they must have a rainbow assortment of those.
btw– I sense a religious drift here on DB. Christ Whalen, Judas Freeman. What’s next, Mary Magdalen Whitney?
Pops a couple extra adderall and begins to furiously masturbate while browsing the new REI catalog.
There is no honor among thieves.
I bet you play lacrosse as well.
ice skating quote is from the Journal.
it’s brokeback skating, not ice skating
This wasn’t really the reach – around I had in mind, man
This wasn’t really the reach – around I had in mind, man
Silly Question:
Why is it obstruction of justice to destroy your own property? Were they under subpoena at the time? What’s going on here?
[Three years later]
Longueuil: I see you got fat.
Freeman: I see you still look like a 15-year-old girl but not hot.
Longueuil: You crushed my dreams.
Freeman: Dreams? Shit. I haven’t had one of those in years.
Longueuil: Zip it, Freeman! Zip it or I will punch you in your crap, lousy face!
Freeman: Hey, This ends tonight!
Longueuil: It’s daytime, you douche!
At least he didn’t father his best friend’s ‘son’. That was sure awkward.
I bet they are both MBAs.
-PhD from MIT Who Never Loses Money But, Rather, Prints It.
I’m getting a strong Lloyd Christmas/Harry Dunne vibe from these two: Vail, failed romances…
Could’ve been worse
- J. Caesar
“their being charged”?
Other than that no concerns.
“their being charged”?
Other than that no concerns.
I wasn’t paying attention, what kind of jacket did he have?
Meh. Longueuil was probably entered in the triathalon in Puerto Rico and Freemen was looking at ways to best him. Selling him down the river was how. That’s the kind of thing Team Psycho does.
I think he was wearing a Mountain Hardware jacket, but I am a bit confused.
“As their being charged in the Feds’ massive insider trading case would seem to suggest” = correct.
“As they are being charged….would seem to suggest” = incorrect.
Want to go again?
It seems like a clear case of just cleaning out the hard drive to me.
their– possessive pronoun to “being-charged-in-the-Feds’-massive-insider-trading case”
Girl gets “A” for style
-Strunk and White
Ummm… short-track speedskating occurs on *ICE*, champ.
Touché good governor. I bow to your greatness, and will now walk away with my tail up my ass.
So you work for the Bureau of Printing and Engraving? Cool! I saw you guys on “Modern Marvels” on the History channel.
-former BSC risk manager
Don,
Assuming you need a stand-up replacement as best man, I’m there for you, dude.
Don,
Assuming you need a stand-up replacement as best man, I’m there for you, dude.
into a cup?
-the guy who wonders if people are masturbating furiously into a cup.
into a cup?
-inquiring minds want to know.
True dat.
-Biggie Smalls
…..and after a not quite long enough hiatus, that was the 3rd time I woke up with a bottle of Pinot Grigio shove up my rectum.
Noah
I believe a Bulletproof movie reference is in order here:
Archie Moses: You wank off a lot?
Chuck: What’s a lot?
Archie Moses: You know, you got 5 minutes off, slip into one of the rooms, pull down your lil’ panty’s wack it.
or “Noah helped Freeman get a job in Connecticut” HUH?
And you were wrong.
And you were wrong.
Wait, there’s a new REI catalog out? What season?
Wait, there’s a new REI catalog out? What season?
Well have you seen the movie because the plot is the exact same as the scenario here?
P.S. your boss over at Ameriprise Financial keeps mass e-mailing people looking for you. It seems lovely 83 yr old Gertrude needs to sell her 1 share of GE, could you help her out with that?
Mr Freeman
I think that you will definitely need my services sooner or later as you will have trouble finding employment.
–Divorce Lawyer
you really are the worst
I see what you did there.
I see he has shifted his preferred outerwear brand to L.L. Bean. Shrewd move.
I see he has shifted his preferred outerwear brand to L.L. Bean. Shrewd move.
You sound well-versed in wealth management. I bet chicks dig that.
Enough with covering up the face. How about sporting an eye-patch and some fake teeth?
Enough with covering up the face. How about sporting an eye-patch and some fake teeth?
Enough with covering up the face. How about sporting an eye-patch and some fake teeth?
Enough with covering up the face. How about sporting an eye-patch and some fake teeth?
Just like drug dealers. Give me a break. But the sad thing is – all these small potatoes going down and the real criminals are the ones putting them in the slammer. What a nasty game.
Just like drug dealers. Give me a break. But the sad thing is – all these small potatoes going down and the real criminals are the ones putting them in the slammer. What a nasty game.
Where are the indictments of the big money guys? These so far are mice nuts….
I’m glad you’ve forgotten about my Fabulous self.
-F. Tourre
the giddy and pointless remarks are so out of touch with the import of the fact that FBI/DOJ is resorting to such coercive tactics that it causes most “normal” people to cave in out of fear – this is not funny at all- and all of you should shed your jealous and petty personas to rally against this tide of intrusion and purging a segment of the population for purely political reasons. You have no idea what it feels like to have to choose honor over liberty…
Either they seem to have gotten their sources wrong, they have no idea what the difference is between ice-skating (how figure skating is refered to as) and short-track speedskating or they’re just doing it on purpose to put him in a bad light. True that short-track is on ICE but so is fishing, sorry ice-fishing.
Feds before Bro’s before Ho’s.
Feds before Bro’s before Ho’s.