What would you do if you found out your company is doing something illegal? 
(Senior Monkey, 78
Points)
on 2/19/12 at 3:56pm
Mod (Andy) edit: Brings up lots of questions... Would you report it no matter what or would it depend on the seriousness of the crime? If you did report it, would you feel like a snitch / traitor & would you be fearful for your job? Have you experienced this in the past? Would you ever consider blackmailing the person(s)? How much illegal activity does go on these days?
you must work for goldman
you must work for Goldman Sachs
If you saw this first hand,
If you saw this first hand, you need to report it to compliance IN WRITING and make sure you have a copy of everything related to the matter to protect yourself in case FINRA bring holy hell down on you. Or if your firm is real shady, they can try to blame it on you. In either case, if you have the documents in writing, you are protected.
If it is something you heard, don't go around and stick your nose in other people's business though. That could not end well for you.
Clearly I would blackmail him
Clearly I would blackmail him for money.
participate
participate
Depends on how illegal we
Depends on how illegal we were talking. I could foresee a couple of possibilities:
1. If the illegal shit is small time/constrained to one person, and is not systemic, then report to compliance or SEC as applicable.
2. If there isn't the will in the company/evidence to actually get a conviction or sentence/punishment for the person, blackmail them in to stopping (anonymously) or become a source to something like the NYT or WSJ.
3. If it is systemic, get proof if possible, change companies, then report to SEC and/or NYT/WSJ etc.
Big thing though is not letting anyone know its you that is ratting them out.
End those fuckers careers and
End those fuckers careers and report it. There is no room in society for moral gray areas.
morgan90 wrote: See the
See the Subject
1- Report it to Compliance
2- Run for your life and for your career!!
Power and Money do not change men; they only unmask them
Cash in on whistleblower
Cash in on whistleblower statutes nigga...snitches get paid!
If the glove don't fit, you must acquit!
WalMartShopper wrote: Cash in
Cash in on whistleblower statutes nigga...snitches get paid!
He would get blackmailed by the industry and corporate America.
Depending on the case, the SEC might charge him.
Power and Money do not change men; they only unmask them
So many ethical/moral people
So many ethical/moral people on here.
I'm honestly surprised.
OP: Keep it moving.
What is it exactly that
What is it exactly that they're doing? You need to be specific, if you want advice.
The answer is really depends
The answer is really depends on what the offense is, whether you have actual proof and how it relates to you and your daily function. I'm not going to be the one to say report it blindly nor will I be the one to say get in on the action. The truth is that it really depends on overall nature of what is being done and whether you can prove it beyond a reasonable doubt. Hearsay is not admissible as proof for a crime and you will need to substantiate your facts if you are going to make a whistle blower claim.
I can give you advice if you
I can give you advice if you tell me what it is your company is doing specifically. Contact me privately if you want.
WalMartShopper wrote: Cash in
Cash in on whistleblower statutes nigga...snitches get paid!
snitches also get stitches blood
'Dean Portman is awarded a full athletic and academic scholarship to the Eden Hall Academy.' I had this lying around the house in Chicago, my attorney thought I should sign, I agreed. It's official boys! I'm back!!!
Don't you know everything's on fire!
Whiskey5 wrote: If you saw
If you saw this first hand, you need to report it to compliance IN WRITING and make sure you have a copy of everything related to the matter to protect yourself in case FINRA bring holy hell down on you. Or if your firm is real shady, they can try to blame it on you. In either case, if you have the documents in writing, you are protected.
If it is something you heard, don't go around and stick your nose in other people's business though. That could not end well for you.
I don't know if this helps, but I remember reading Robert Baer's book See No Evil - he was going through how he'd avoided being caught up in the Iran-Contra affair. He basically circulated the info to everyone internally - and had it on paper. I don't think compliance is enough, if it's the case that you could be seen as an accomplice if this thing gets out. But that's the CIA...
I wonder if you could just come up to your boss and be like, "hey, can I get vacation time until you guys are done doing what you're doing?" They would probably make you a scapegoat though...
Two golden rules: Never rat on your friends. And always keep your mouth shut.
ProspectiveMonkey wrote: End
End those fuckers careers and report it. There is no room in society for moral gray areas.
Aren't you late for civics class?
Unless it's some mega
Unless it's some mega unethical shadiness going on I'd keep my mouth shut.
as someone who has been in
as someone who has been in your shoes, you must report it to compliance.
Say nothing to anyone else.
Obtain in writing from compliance that you have done all you need to do.
Wash hands of it.
If still continues, go to regulator if dubious practises, WITH evidence NOT suspicions.
Call the anonymous lines that are provided for questions and answers specific to your case.
Would I feel like a "trader"?
Would I feel like a "trader"? Yeah probably. From UBS.
Under my tutelage, you will grow from boys to men. From men into gladiators. And from gladiators into SWANSONS.
Lol @ trader.
Lol @ trader.
In addition to compliance,
In addition to compliance, keeping a written record, you might want to consult your personal lawyer and look for another job/changing firms if you think what they're doing is significant or if senior guys are involved (its likely that they have other dodgy dealings that you don't know about).
Your reputation is your biggest asset in this industry. Look after it.
If its serious, blackmail and
If its serious, blackmail and look away.
............
Flake wrote: Would I feel
Would I feel like a "trader"? Yeah probably. From UBS.
ha fixed that...
WSO's COO (Chief Operating Orangutan) PM me w/ ideas/complaints/q's-or lets meet up if you're in Buenos Aires. My story
The above are good ideas. In
The above are good ideas. In the past I just kept my head down, kept my nose clean, and looked for the next gig: if a place is breaking the law on a serious level, it's likely a sinking ship / time bomb and you're better off jumping sooner rather than later. You might want to also realize that many minor / BS rules get 'bent' in the real world, and it's not just finance it's EVERY industry, so think things through.
COME TO THE WSO CONFERENCE!!!!!
I'd call Homeland security
I'd call Homeland security and report them as economic terrorists.
'' Come to Wall Street. Spend two years working your butt off ... Taste it, enjoy it; just don't get drunk on it. Cause the hangover is a real bitch.'' - IlliniProgrammer
I suppose it's fortunate that
I suppose it's fortunate that I work for a bean-counter firm, so it's pretty much expected of everyone to report any less-than-moral shenanigans...
AndyLouis wrote: Flake
Would I feel like a "trader"? Yeah probably. From UBS.
ha fixed that...
<3
Under my tutelage, you will grow from boys to men. From men into gladiators. And from gladiators into SWANSONS.
good question, should ask
good question, should ask this to ex-employees of madoff's fund. My guess is most people care about one thing: if the scheme is busted, is there any evidence that will get me personaly in trouble? if the answer is no they are likely to not care and just enjoy the benefits that come with working there
mikebrady wrote: you must
you must work for Goldman Sachs
When I read the title of this article, this is the first thing I thought of. Wish I wasn't out of SB to give you.
Well, illegal is illegal and
Well, illegal is illegal and the right thing to do is to always report it but there are times when it is just best to stay quiet and then look for another place to further your career.
I swear I will cut whoever
I swear I will cut whoever snitches on me stealing company coffee and paper towels!!!!
FlakieBear
Cash in on whistleblower statutes nigga...snitches get paid!
He would get blackmailed by the industry and corporate America.
Depending on the case, the SEC might charge him.
Oh noes, blackballed. That's bullshit. First of all, qui tam on a major case results in having enough money to say 'fuck you industry/corporate America." Second of all, who the hell would work for a company they have loss enough respect for to report them? Third of all, you become an instant celeb to others and a martyr of morality that wouldn't have a problem starting your own consulting gig/company/whatever the hell you feel like doing with your millions.
If the glove don't fit, you must acquit!
WalMartShopper
Cash in on whistleblower statutes nigga...snitches get paid!
He would get blackmailed by the industry and corporate America.
Depending on the case, the SEC might charge him.
Oh noes, blackballed. That's bullshit. First of all, qui tam on a major case results in having enough money to say 'fuck you industry/corporate America." Second of all, who the hell would work for a company they have loss enough respect for to report them? Third of all, you become an instant celeb to others and a martyr of morality that wouldn't have a problem starting your own consulting gig/company/whatever the hell you feel like doing with your millions.
That's only in your lala land.
Unfortunately, the OP does not live in Lala land and he has a question about a real issue.
Time out for you
Power and Money do not change men; they only unmask them
How do you know there won't
How do you know there won't be retaliation?
Public service announcement
Public service announcement from Gordon Gekko...
Anonymous tip off to the Feds?
FBI hidden camera: Bank
FBI hidden camera:
Bank Official Discusses Laundering Money
http://youtu.be/h6C5yBQTApE
http://www.youtube.com/watch?v=h6C5yBQTApE&feature=relmfu
Power and Money do not change men; they only unmask them