As we have learned from former SAC trader Noah Freeman’s extensive testimony in the government’s insider trading case du jour, expert network analyst Winifred Jiau had a tendency to act irrational, demanding and sometimes plain bitchy. Whether her behavior stemmed from a power trip associated with realizing she was the person anyone who was anyone in the insider trading space wanted to work or she was simply born that way is unclear but regardless, while it may have annoyed some clients, it didn’t stop anyone from buying what she was selling, i.e. inside information that was “precise to the decimal.” Freeman, for example, has go so far as to praise her tips as best in class while sharing that he fantasized about doing her bodily harm, such as when she would make what he felt to be absurd requests like two (2) iPhones, gift cards to clothing stores, the Cheesecake factory and a dozen Thanksgiving lobsters. Apparently, though, the stuff wasn’t for Jiau. She just needed it to land another member of her “club.”
The friend was former Nvidia financial analyst Sonny Nguyen, who took the witness stand in Manhattan federal court to testify against Jiau on Wednesday…[Nguyen] testified that Jiau told him at lunch and on a walk around a parking lot on a sunny day in 2007 “we should get together and form a club to buy and sell stocks based on inside information.”…Nguyen told the jury he quickly lost faith in the “club” after he lost money on one of her stock tips…He said that after Jiau’s contract at Nvidia ended, they kept in touch. In August 2008 he tipped her about Nvidia’s quarterly results before they were announced to the public. Nguyen testified that she called him persistently for those numbers. She was “annoying and pestering,” he said. “I wanted her to go away so I gave her what she wanted.”
Jiau made efforts to befriend him by giving him an iPhone, “live” lobsters, a $20 gift card and a jar of honey, Nguyen told the jury. She met his family at a Cheesecake Factory chain eatery; they also ate at a Mexican restaurant and Jiau took him to a golf driving range one lunchtime.
Truth hurts, doesn’t it, Noah?
Lunchtime Walk Led To Insider Conspiracy [Reuters]