Spyridon “Sam” Adondakis
- 14 Nov 2012 at 6:30 PM
- 18 Jan 2012 at 9:41 AM
Today’s Insider Trading Arrests Brought To You In Part By A Cooperating Witness Whose Name Starts With The Word “Spy”By Bess Levin
Remember, about a year ago, when hedge fund Level Global was rumored to have a government mole in its ranks? At the time, the firm’s representatives said such reports were total bull shit, and, investors were told, here’s how they knew that to be the case:
“As is the case each time there is a new development in the U.S. Attorney’s investigation, we have conducted an extensive internal factual correlation analysis, cross-referencing the facts in the complaints to our firm’s records. Our experienced outside legal counsel has also conducted its own analysis. Based on all of our work and analysis, we have concluded that these complaints do not appear to be referencing Level or Level personnel.”
Frankly, LG was getting a little tired of having to constantly run factual correlation analysis in order to prove the world wrong but c’est la vie. Anyway, despite usually having a 99.9% accuracy rate, the factual correlation calculator apparently missed one.
Last month, federal prosecutors in Manhattan said in a court filing in the case of a PGR employee that Level Global had made a $1.7 million profit by covering a short position it had in Taiwan Semiconductor Manufacturing Co. Ltd. in June 2009. That May and June, a Level Global technology analyst had about seven phone calls with Manosha Karunatilaka, a PGR expert who worked at TSMC and has pleaded guilty to supplying inside information to investment fund clients, prosecutors said. The Level Global technology analyst, Spyridon “Sam” Adondakis, was overseen by Mr. Chiasson and is cooperating with the government’s investigation, the Journal has previously reported, citing people familiar with the situation.
And now this is happening: Read more »
- Accused Insider Traders Already Guilty Of One Thing November 14, 2012
- Daivd Einhorn: Maybe It's Time To Asking Questions Like, "Why The F*ck Did A Startup Texting Service Sell For $19 Billion?" April 22, 2014
- Goldman Sachs Exec Embroiled In Horse Shit Suit April 22, 2014
- Is Lululemon CEO's Lack of Muscle Tone Good Or Bad For Shareholder Value: Investors Debate April 22, 2014
- Bill Ackman’s Boyish Visage To Be Preserved For Posterity April 22, 2014
- Larry Fink Expands On His Dislike Of Hedge Funds April 22, 2014
- Somebody Thinks Their Facebook Shares Are Going To Take A Hit April 22, 2014
- Breaking: Banks Competing With Each Other April 22, 2014
- Bill Ackman Doing Okay For Himself This Year April 22, 2014
- Write-Offs: 04.22.14 April 22, 2014
- Executive Editor
- Bess Levin
How Can We Help You?
- Send tips to:
- For tech issues email:
- For advertising or events email:
- For research or custom solutions email:
- Dealbreaker is published by Breaking Media.
For a full list of our sites, services and staff visit breakingmedia.com