SAC Not Sweating SEC Investigation Into Fairfax Trades

[Parsad]

Probably because the key witness is dead! 

 

The article discusses how SAC and Kynikos have not been served Wells notices by the SEC.  They note that SAC in seventeen years has never been served a Wells notice.  I believe Madoff was never given one either in 30 years!  Cheers!

 

http://dealbreaker.com/2009/11/sac-not-sweating-sec-investiga.php

[Crip1]

"Fairfax Financial, a Canadian Insurer, still has it in their head that some of the most feared and respected hedge funds got non-public information about the company and spread it around the street encouraging their buddies to short the heck out of the stock."

 

Well...there's some objective journalism. ???

 

-Crip

[Mungerville]

Sanjeev,

 

Who was the key witness?

[nodnub]

I think Sanjeev was referring to John Gwynn

 

http://cornerofberkshireandfairfax.ca/forum/index.php?topic=1503.0;topicseen

[Parsad]

Gwynn knew exactly who he was releasing the reports to early.  The only other people who probably knew were the ones receiving them, and Morgan Keegan since they found enough information to dismiss Gwynn.  Cheers!

[Mungerville]

Thks guys - missed/forgot about that one.

[Guest kawikaho]

You guys might like reading this:

 

http://www.reuters.com/article/idUSTRE5B31YT20091204

 

Check out this excerpt:

 

"In a lawsuit earlier that year Tong had charged that his male supervisor, Ping Jiang, then a top SAC trader, forced him to perform oral sex on him before completing a trade, according to people familiar with the investigation and court papers. Tong also alleged Jiang ordered him to take female hormones to turn him into "the ideal analyst/trader," combining both male and female characteristics, the court documents note."

 

Holy shit!  hhahaha, wow.  That reminds me of that Chinese guy at Enron that used to bring in strippers to the office.

[valuecfa]

You guys might like reading this:

 

http://www.reuters.com/article/idUSTRE5B31YT20091204

 

Check out this excerpt:

 

"In a lawsuit earlier that year Tong had charged that his male supervisor, Ping Jiang, then a top SAC trader, forced him to perform oral sex on him before completing a trade, according to people familiar with the investigation and court papers. Tong also alleged Jiang ordered him to take female hormones to turn him into "the ideal analyst/trader," combining both male and female characteristics, the court documents note."

 

Holy shit!  hhahaha, wow.  That reminds me of that Chinese guy at Enron that used to bring in strippers to the office.

 

 

Wow. They have some culture there. I wonder what you would have to do if you want to ask your boss for a raise.

[ubuy2wron]

You guys might like reading this:

 

http://www.reuters.com/article/idUSTRE5B31YT20091204

 

Check out this excerpt:

 

"In a lawsuit earlier that year Tong had charged that his male supervisor, Ping Jiang, then a top SAC trader, forced him to perform oral sex on him before completing a trade, according to people familiar with the investigation and court papers. Tong also alleged Jiang ordered him to take female hormones to turn him into "the ideal analyst/trader," combining both male and female characteristics, the court documents note."

 

Holy shit!  hhahaha, wow.  That reminds me of that Chinese guy at Enron that used to bring in strippers to the office.

I will not provide a link because the details are frankly sickening however if even a small portion of the alleged conduct ,revealed in  unsealed court documents are true concerning former SAC employees then I suspect a scandal of Enron or Watergate is importance is starting to emerge

[SharperDingaan]

 

Stevie is going to have to get used to a gaggle of gutter press in his face every where he goes. The cost of the probable pay-offs is rising, & the strategies 'guarded secrets' appear to be apparently criminal or BJ wouldn't be pursuing it.

 

The emperor would seem to be loosing his clothes, & trying to burn Rome to stop the barbarians from getting to him?