wire fraud

He just had to get a little creative is all. A lot of people say that trading is their passion but when push comes to shove they’d give it up in a second if A) they lost their Bloomberg terminal and B) a judge ordered them to do so. Neither of these things were going to hold James Michael Murray down. Read more »

Except:

  • Looking up laws regarding tinted windows
  • Coming up with a better disguise than James Lipton Meets Dave Navarro
  • Straying a bit further than two hours from his house, or to a place where local cops wouldn’t be able to recognize him, even with the aforementioned disguise

Read more »

Remember David Miller? Rochdale Securites trader who masterminded a scam that involved the “unauthorized purchase of about $1 billion in Apple stock,” which he claimed was for a client (a lie)? Forget to dot a few essential i’s and cross a few crucial t’s in the scheme, which contributed to its failure and left the firm in a “negative capital position”? Robbed the universe of Dick Bové research for a time? Which thankfully turned out to be a very short amount of time, i.e. the period between Bové’s resignation from Rochdale and the announcing of the winner of the Dick Bové Sweepstakes? Yeah, he’s going to jail. Read more »

A lesser man might be sweating the impending fraud charges against the firm that manages his money, but SAC Capital investor Ed Butowsky’s brows and underarms are bone dry. Butowsky, who has gone on record recently to say that 1) he wishes he could put more money with SAC and 2) anyone speaking ill of Steve Cohen can and should go fuck themselves, is fairly certain Team SAC will come out of this stronger than when they started. And when that day comes he’ll be there with party hats and streamers, driving the giant S-A-C-shaped float he’s been working on in his garage through the streets of downtown Stamford, accompanied by Beamers girls shooting zip-up fleeces out of stadium-style tee-shirt guns. There’ll be Zamboni rides and Facepaint, and a petting zoo for the kids. It’ll be the greatest celebration this town has ever seen and will serve as a monument to one man’s unwavering faith in another. And if that other man wants to throw some gratitude in the unwaveringly faithful guy’s direction, maybe by making him a senior adviser or giving him his own parking spot or just taking the time to say, “Ed, I couldn’t have done it without you. And I think of you like a brother,” that’d be okay too. Read more »

Florian Homm presumably saw this coming. Read more »

Earlier today, Bill Hwang, the founder of the Tiger Cub’s Asia-based branch, Tiger Asia, pleaded guilty to one count of wire fraud and agreed to fork over $44 million to make allegations by the SEC of insider trading in Chinese bank stocks go away. According to Hwang, his firm “regrets the actions for which is accepts responsibility today and is grateful that this matter is now resolved.” According to SEC director of enforcement Robert Khuzami, who we would love to consider a side job writing fables for children about foxes who trade on unreleased information about clinical trials of Alzheimer’s drugs and take advantage of innocent hens,* Hwang was a very bad boy and should serve as a cautionary tale for anyone thinking about breaking the law. Read more »

Remember this guy? Tyrone L. Gilliams? Read more »