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Taking Away Your Head Trader’s Desk And Shoving Him In A Basement To Perform Menial Labor In Retaliation For Whistleblowing Apparently Not Okay

On Monday, Paradigm Capital Management became the first investment fund to pay a fine for retaliating against an employee who reported his firm’s misdeeds to the S.E.C. The hedge fund, which is based in Albany, N.Y., and manages $1.5 billion of client money, agreed to pay $2.2 million to settle the civil charges…Mr. Nordgaard was head trader at Paradigm Capital from 2009 to August 2012, when his contract was terminated. Mr. Nordgaard, who filed a lawsuit against the firm in 2012, said that shortly after he told his employer that he had reported trading violations, Paradigm Capital “embarked on a campaign of retaliation” against him. Days later, Mr. Nordgaard was removed from his desk and stripped of his trading privileges, according to the lawsuit. He was then assigned to “an isolated location to do low-level compliance work”. [Dealbook]

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7 Responses to “Taking Away Your Head Trader’s Desk And Shoving Him In A Basement To Perform Menial Labor In Retaliation For Whistleblowing Apparently Not Okay”

  1. Shaz's beard says:

    Can we shove Shazzy in the basement to perform menial labor?

    • Shazzy Onsite@UBS says:

      Query whether that would be a promotion or demotion from furiously Ctrl+C/Ctrl+V'ing from a service bay at Stamford Honda?

  2. AI says:

    Have you seen my stapler

  3. Lumburg says:

    Jimmmmmyyy whaaats happening. You whistle blowing piece of shit get in the basement and kill some rats

  4. friv juegos says:

    Nordgaard was removed from his desk and deprived of their business. a sad and information truly sorry about that.

  5. Guest says:

    What a dope. He should have just left and gone to one of the countless other hedge funds in Albany. If not, there is always Schenectady.

    – UBS Head of North American Capital Introduction

  6. Meagain says:

    The action involves both Candace Weir King, aka CL King her broker-dealer, and her asset management business, Paradigm.

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