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Noah 'Judas' Freeman Required Little Convincing That A Week In Puerto Rico > A Lifelong Friend

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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.

“For the best FBI agents, it’s the prep work that goes into making sure their approach of a cooperator works, to understand every facet of this person’s life, everywhere they go,” Chaves said. “Because there’s the element of surprise, and the agent is there waiting for you outside your dry cleaner and says, ‘Hey, listen, we need to talk to you.’ The image that portrays to a would-be cooperator is ‘These guys have done their homework and they’ve got me.’” Case agents working for Carroll and Chaves are advised to learn everything they can about suspects and individuals they intend to talk into cooperating, Chaves said -- everything from whether they favor “Dunkin’ Donuts or Starbucks and where they eat lunch.” Freeman said FBI agents “flipped” him when he found them waiting by his car in the parking lot of the New England prep school where he worked, after he had left SAC. They played him a recording of his own voice as he was committing insider trading.

Sounds like it would've been a nice opportunity to teach some impressionable young ladies about 1) not letting people intimidate you and 2) a little thing called loyalty. Instead, Judas choose door number three.

After that, he gave agents information on at least a dozen people with whom he allegedly committed crimes.

If anyone is interested in applying for the newly vacated position of best friend of a guy who will expect you to be there when his chips are down but who is at the drop of a hat willing to destroy your life in order to save his own, resumes are now being accepted. Salary commensurate with experience; time spent as a human footstool or as a 'slave' in the BDSM world are plusses.

FBI Runs ‘Perfect Hedge’ to Nab Inside Traders [Bloomberg]
Earlier: Donald Longueuil And Noah ‘Judas’ Freeman: A Bromance Betrayed
Related: Alleged Insider Trader Noah Freeman Has Likely Broken Hundreds Of Underage Girls’ Hearts Today

**As we have said in the past, in descending order of seriousness/things for which you should have trouble looking in the mirror:
>>Stabbing your best friend in the back
>>Securities violations


Noah Freeman Can Consider His Invitation To The SAC Capital Alumni Hayride And Pumpkin Picking Party Rescinded!

If you are a hedge fund manager who goes by the name Steven A. Cohen, there are a few things you really don't want to hear first thing in the morning. They include: a) "You might not want to put that whiteboard marker in your mouth" b) "The fleeces are on back order" c) "Your ex-wife is in the lobby" d) "There's a photographer here who said he's been authorized to shoot you wearing a king's robe and crown for a set of playing cards" e) "You've been outmaneuvered for the Toledo Mud Hens. But I hear the Binghamton Mets may be available." f) "One of your former employees told the FBI you regularly trade on material non-public information." No one has sodomized anyone with any foreign objects lately, the supplier got the message ("That shipment will be here in the next hour or you'll find out what it's like to be dragged down the BQE via Zamboni") loud and clear, Patty C is sitting this round out, photoshoots have been banned, and baseball in general can go fuck itself, so the mood at 72 Cummings Point Road today can likely be attributed to this: A former SAC Capital Advisors LP portfolio manager told the FBI it was “understood” that those assigned to give their best trading ideas to founder Steven A. Cohen would provide him with insider information, according to an agent’s notes of the conversation. The former fund manager, Noah Freeman, pleaded guilty to securities fraud in February 2011 after speaking to Federal Bureau of Investigation agents and federal prosecutors in New York in late 2010, in a so-called proffer session. Defendants use such sessions to determine whether to cooperate with the government against others. “At SAC Capital you were expected to provide your trading ideas to Cohen,” Freeman said, according to a Dec. 16, 2010, memo written by FBI Special Agent B.J. Kang. “Freeman and others at SAC Capital understood that providing Cohen with your best trading ideas involved providing Cohen with inside information.” Doesn't sound good! But before anyone launches himself into space in a rocket disguised as a Bob's Big Boy statue, let's stop to consider that: 1) The person who made this claim is Noah 'Judas' Freeman, the ex-SAC employee who recorded Donald Longueuil-- his closest friend, best man, and the guy who "helped Freeman get out of bed in the morning" during a bout of crippling depression he suffered after being dumped by his previous fiancée-- admitting to destroying evidence of the insider trading they both took part in in order to save himself and not have to eat the cost of the Puerto Rican vacation he'd booked months earlier, i.e. a person looking out for number one and number one only, who seems like he would probably say anything if he thought it was in his best interest.* 2) According to Bloomberg, "Freeman isn’t quoted as saying Cohen, 56, knew the information came from illegally obtained tips, ordered him to provide them or traded on the data," and unless someone can get their hands on the unofficial company handbook that includes a chapter on the burly-looking man who stops employees approaching the boss with an idea to say "If you violated any fewer than five securities laws in getting this information, don't waste his fucking time," proving that there was an unwritten, unspoken expectation that "the trading ideas involved dirty information," based on one crooked guy's claim, seems difficult. Having said all that, if it turns out four other people come forward to confirm Freeman's claim, or if he also wore a wire when chatting up Cohen, as he did with Longueuil, and got Cohen to go into great detail re: the wink-wink policy at the firm, that would be less than great and would probably have the potential to take over for the worst day of the Big Guy's life. But hey, no more forced sodomy on the trading floor! That's something! Ex-SAC Capital Manager Tells FBI Fund Used Insider Data [Bloomberg] Earlier: Donald Longueuil And Noah ‘Judas’ Freeman: A Bromance Betrayed *Re: Going on vacation, not going to prison.