Hedge Funds

Ex-SAC Analyst Accuses Basically Everyone He Ever Worked With Of Insider Trading

Okay, technically not *everyone* but A LOT.

Wesley Wang, a former analyst for SAC Capital Advisors LP’s Sigma Capital unit, gave federal agents the names of about 20 people he said had traded on illegal inside information, some of whom are uncharged targets of the government’s investigation, U.S. prosecutors said…From November 2008 until January 2009, the FBI tapped Wang’s phones, the prosecutors said. He later agreed to cooperate with the government’s insider-trading investigation, making recorded phone calls and meetings to gather incriminating evidence on people with whom he had exchanged inside information, according to the letter. “Wang’s information and consensually recorded telephone calls and meetings enabled the FBI to pursue various avenues in insider trading investigations, which yielded tremendous success,” Assistant U.S. Attorneys Christopher LaVigne and Jillian Berman said in the letter to U.S. District Judge Jed Rakoff in Manhattan. “The importance of Wang’s information in this regard cannot be overstated.”

And apparently there’s more where that came from!

“The full extent of Wang’s information and cooperation remains to be realized,” LaVigne and Berman said in the letter.

Ex-SAC Analyst Identified 20 Inside Traders, U.S. Says [Bloomberg]

24 comments
(hidden for your protection)
Show all comments

24 Responses to “Ex-SAC Analyst Accuses Basically Everyone He Ever Worked With Of Insider Trading”

  1. Danker_Banker says:

    Wang sang

    • yo levine says:

      take everything levine says about SAC with a big heap of salt ……… he's looking to protect his fellow jew by ridiculing everyone who attacks it

  2. Al Czervik says:

    I think this place is restricted Wang, so don't tell them you're jewish

  3. Guest says:

    Never trust Wang

  4. guest says:

    What a Dick.

  5. Guest says:

    Wang is such a half sac.

    -Piney

  6. Fire Jon Shazar says:

    Hey Cohen next time hire a Wang with some balls

  7. Wang Chung says:

    Everybody have fun tonight!

  8. segoviacobain says:

    Am I the only one in the crowd who believes that Stevie will soon be grabbing his ankles and gritting his teeth in some prison cell?

  9. pun-dit says:

    Nobody escapes the long wang of the law

  10. Raycess says:

    WANG!!!! Where is my automobile!!!!!!!

  11. Bandersnatch says:

    No one would be scared of the Dread Informer Wesley

  12. HFguy says:

    3 & 50% sounds like a legit fee structure for this much trouble.

  13. Guest says:

    Never pay a Wang to do a Chang's work.

  14. Guest says:

    Snitches? Someone better call a Wangbulance.

  15. Long'un says:

    Judge Jed Rackoff and Wes Wang..?

    only on Dealbreaker..

Our Sites

  • Above the Law
  • How Appealing
  • ATL Redline
  • Breaking Defense
  • Breaking Energy
  • Breaking Gov
  • Dealbreaker
  • Fashonista
  •