Preet Bharara is a big-picture kind of guy. He’s won more than 80 insider-trading convictions. Sure, there’s the one that got away, mostly because the judge presiding was, in Preet’s considered opinion, a fucking idiot. And, sure, it hurt. Still does. But he’s not going to let that get him down. No. He’s going to start a new streak right now. Read more »
Most of you know or have heard of Preet Bharara in the context of his day job as Manhattan U.S. Attorney. In this role, Bharara investigates and litigates cases against, among others, alleged terrorists, gang members, mobsters and white collar criminals. And while most of his predecessors and colleagues in the Southern District have long viewed their positions with the AG as steppingstones for even more powerful jobs, it’s obvious to onlookers that Bharara has other things in mind for his career.
It’s not that he doesn’t have aspirations–oh, on the contrary, he does. It’s just that they’re less U.S. Attorney General (or Supreme Court Judge) and more Comedy Central Roastmaster. After hinting at the dream for some time– peppering his press conferences with one liners, pausing for dramatic effect, etc– the prosecutor made his intentions quite clear on Monday night, at what Fox Business’s Charlie Gasparino reports was a “roast” for a former co-worker heading into private practice. Read more »
Hiring Lawyers To Tell You That You Can Do Whatever You Want Proves To Be Less-Than-Airtight Legal Strategy For BNP ParibasBy Jon Shazar
The sudden disappearance of what was once the world’s largest bitcoin exchange—and all of the bitcoins “contained” therein—is apparently not a good reason to stop speculating in fake currencies. Read more »
So, the insider trader formerly known as Ajai Mathew Thomas has been convicted of said insider trading, just like everyone else who’s been charged with it in the last five years. But forget this nobody grain of sand. How does it impact his former boss and conversation partner?
Answer: Probably not at all.
From a public relations standpoint, his conviction signifies another blow for Cohen, who had already been forced to drop all of his clients in converting SAC Capital into an investment vehicle for his $9 billion fortune.
Unless prosecutors leverage yesterday’s verdict to convince Martoma to turn against his former boss, however, his conviction is likely to have little bearing in their on-going pursuit of Cohen.
Here’s your daily wrap-up of all things cryptocurrent. Read more »
Mr. Bharara is rumored to be independently wealthy, the result of an early investment in his younger brother’s company, Quidsi, the parent of Diapers.com and Soap.com, which was sold to Amazon.com for $540 million in 2010, as DealBook’s Peter Lattman noted at the DealBook conference on Tuesday. Is that indeed true? Is he independently wealthy. Mr. Bharara demurred. “Not compared to the people in this room,” he said, to a room full of business people. While he did not discuss his own wealth directly, Mr. Bharara said his brother, Vinnie, tends to pay for dinner when they go out, ever since he “came into a little bit of cash.” “I got it,” Vinnie Bharara said at a dinner recently, according to Preet. [Dealbook]