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BlueCrest Can’t Even Be Bothered To Fire Alleged Liborgater

The firm is thinking the alleged manipulation attempts are just kind of whatever.

What, me worry?

Unfortunately for BlueCrest Capital Management, Deutsche Bank’s “accidental” chat deletion didn’t include a February 2005 message from one of the hedge fund’s traders, asking a DB director to help him stick it to UBS with some low Libor love because “they’re getting on my nerves.” The inclusion of that little nugget in Deutsche Bank’s settlement with New York regulators has now landed both Deutsche Bank and BlueCrest on a group of litigious investors’ shit list, not that the hedge fund seems terribly concerned.

BlueCrest and other defendants “rearranged their Swiss franc Libor-based derivatives desks to encourage cooperation among traders,” investors said in the lawsuit filed June 19 in federal court in Manhattan….

“We have reviewed the circumstances surrounding the communication mentioned in the complaint and are satisfied with our employee’s continued suitability to serve at BlueCrest,” the hedge fund said in the statement.

BlueCrest Sued in U.S. as Libor Fallout Ensnares Hedge Fund [Bloomberg]


Don’t Even Think Of Delivering Norman Seabrook’s Alleged Bribes In A Coach Bag

Even the deBlasio administration would like you to keep the class in NYC graft.

By Mr. Granger (Own work) [CC0], via Wikimedia Commons

Ken Griffin Ensures Ample Supply Of People To Hire And Fire Going Forward

The University of Chicago will be churning out little Ken Griffins—and those training the little Ken Griffins—for the foreseeable future.

Kyle Bass Crusader

Kyle Bass Can’t Wait For Things To Get Really Ugly

You think this is bad? The hedge fund manager pities the penury of your imagination.

By Chris Potter (Flickr: 3D Judges Gavel) [CC BY 2.0], via Wikimedia Commons

Allegedly Fraudulent Hedge Fund Counters Fraud Allegations With Award Won Through Alleged Fraud

Goldsky Asset Management may have no assets, but it does have hardware.