Remember Noah Freeman? To recap, he’s the former SAC trader who, in addition to taking part in an insider trading scheme, committed an arguably worse** crime (within a crime) when he stabbed his best friend, Donald Longueuil in the back. Despite splitting the work of obtaining and trading on material non-public information from a lobster-loving tyrant 50/50, Judas Freeman decided that Don, the guy who served as best man at his wedding and who prior to that happy day, helped him “get out of bed in the morning” following a bout of depression on account of being dumped by his previous fiancée, should be the one to take the brunt of the punishment. That’s why he agreed to wear a wire and coax Longueuil into incriminating himself on tape on four separate occasions, which finally paid off when Don gave Judas a riveting blow by blow account of exactly how he destroyed evidence of the insider trading they both took part in.
In exchange for selling his friend down the river, Freeman was given permission to go on vacation with his wife (first to Puerto Rico, then the U.S. Virgin Islands, which he’d been looking forward to for months). Now, at first glance, this seems fairly ice cold. Colder than the ice Judas and Don once glided down, hand in hand, even. One might even get the impression that Judas believed friends who will not only share your interest in ice skating but who will nurse you back to health following an emotional breakdown and give a bang-up speech at your wedding grow on trees. But maybe it didn’t go down like that? Maybe Judas tried desperately to avoid betraying the one person who was always there for him? Maybe he told the Feds they could go to hell and he didn’t jump at the chance to save himself on the back of Donald? Unfortunately, the evidence suggests otherwise. Continue reading »
This probably doesn’t come as much of a surprise, considering he was already found guilty of insider trading and sentenced to two and a half years in prison but that doesn’t make it sting any less: Donald Longueuil, who the feds were able to bring charges against after his colleague, accomplice and so-called best friend Noah Freeman agreed to record conversations with Don in exchange for a lesser sentence, during which Don was heard on tape saying re: his USB flash drive: Continue reading »
Back in June, the lawyer for Winifred Jiau, expert network empress and accused insider trader, made a simple plea: “Put an end to this misguided prosecution,” Joanna Hendon said. “Send Ms. Jiau back to California, and to her dog.”
While the request might’ve played well with golden retriever lovers, the presiding judge didn’t care. He dragged things out another month, finding Jiau guilty over the summer and later on denying a request for acquittal or a new trial. Was Winifred the person you wanted to work with if you held an elastic view of securities laws and most certainly guilty of insider trading? Unquestionably: yes. Was she an individual who commanded sympathy, leniency or to whom you’d want to throw a bone? Those who benefited from her tips would be the first to tell you hell no.
In fact, she was bossy, she would cancel meetings at the last second, she would demand $300 gift certificates to the Cheesecake factory in one breath and a dozen Thanksgiving lobsters in the next, she would meet you for a pass off of material non-public information and tell you the shellfish you sent were Maine lobsters and she’d specifically request South African lobsters (even though she hadn’t) and then spit in your face and walk away and yes, sometimes you’d sit at your desk after she’d reamed you out over the phone for not giving her “the sugar” and fantasize about various ways you could kill her and make it look like an accident but having said all that: there’s a dog waiting for this lady and judge? She knows people who can make certain that these will be the first words you hear when you wake up and the last one’s you hear before you go to bed, for the rest of your life: Continue reading »
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.” Continue reading »
Unless you’re also counting those that fell in the “gray area,” in which case, that’s really anyone’s guess. Continue reading »
That was former SAC Capital trader Noah Freeman. Continue reading »
He’s “not sure what happened.” Continue reading »
