At first, the FBI considered sending an agent to work undercover at one of the suspected hedge funds …
“We couldn’t get in. It was such a closed industry — much like an organized crime family — that it was difficult for the FBI to either introduce an undercover agent or recruit a cooperator.”
Corrupt traders relied upon secret alliances, longtime friendships and even sexual relationships.
… [Raj] Rajaratnam relied on Anil Kumar, a former McKinsey partner, and Rajiv Goel, a former managing director at Santa Clara, California-based Intel, whom he’d known for decades. All three attended the Wharton School at the University of Pennsylvania in Philadelphia.
December 21st, 2011 at 10:59PM
Once arrested the guys from the B-school set began to sing a lot faster than the mobsters did.
December 22nd, 2011 at 2:10AM
Mike S. Yes – they were really fast.
December 22nd, 2011 at 6:07AM
A little holiday cheer for all…
Working in a Wharton wonderland
Cell phones ring
Are you buying?
Inside trade
and some lying
A profitable scheme
A hedge funder’s dream
Working in a Wharton wonderland
One hundred plus may be jailbirds
Caught on tape in their own words
Trapped by the feds
Asleep in their beds
Working in a Wharton wonderland
In the market we can place an expert
Then pretend to make a legal deal
We’ll say: “Give us info”
He’ll say; “Yogurt
Merger soon, buy
now, it’s a steal
Later on
we’ll conspire
as we dream by the fire
To count unafraid
The billions we’ve made
Working in a Wharton wonderland
In the market we can build an expert
and pretend to make the market run
We’ll make lots of dough with mister expert
Until the G-men find out what we’ve done
When we hedge
Ain’t it thrilling
As your pockets are a-filling
We’ll lie every day
The B-School way
Working in a Wharton wonderland
December 22nd, 2011 at 8:51AM
GTWMA: So wonderful that it makes me want to write one of my own. Something to do on the long drive to Boston. Thanks.
December 22nd, 2011 at 9:01AM
Had the carols going this morning and the alliterative “W” just leapt out and bit me.
December 23rd, 2011 at 3:06PM
Hey! I went to Wharton, and I didn’t get ANY of this illicit money. My mistake for going into manufacturing instead finance?