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  1. WSO Decides: Valeant Pharmaceuticals, fraud or not?

          Well if you haven't seen or heard about Valeant Pharmaceuticals (VRX) today, or at least recently, then you're living in a closet. For those that know nothing about this here's a basic timeline.- Valeant is a serial acq ...

    61 comments - 1 silver bananas - Oct 24 2015 - 11:00am -

  2. This is what we imagine when you kids ask "should I start my own fund?"

    From the WSJ (link inside the post) "Would-Be Financial Whiz Is Charged With Stealing From Investors" The emails to clients are gold. "you idiot f*ck" / "I'm a human being" / "you know that I love you" To ...

    62 comments - 2 silver bananas - Mar 22 2015 - 5:00pm -

  3. Stanford Just Ganked Martoma's MBA

    Wait...what? Can they do that??? Apparently they can. Stanford's Graduate School of Business has rescinded Matthew Martoma's 2001 offer of admission, effectively saying he never attended grad school there, and thereby no longer has an MBA from t ...

    24 comments - 3 silver bananas - Mar 6 2014 - 7:23am -

  4. 29-Yr Old Hedgie Pleads Guilty to Fraud

    29-year old "hedge fund" boss Frederick Scott pled guilty on Friday to fraud charges alleging his entire hedge fund operation was fictitious and that he bilked investors out of $1.3 million. He claimed to be the youngest African-American hedge f ...

    33 comments - 1 silver bananas - Sep 17 2013 - 7:57am -

  5. The Most Fantastic Investing Opportunity... for ME?! Thank you, Mystery Man!

    Directly from the archives of "PMs that BlackHat gets that are so epic I'm willing to violate another user's privacy to share"------------------------------------------------------------------------------ To: BlackHat From: XXXXX Subje ...

    23 comments - 0 silver bananas - Aug 2 2014 - 4:33am -

  6. How Rampant Is Cheating (& does Adderall count as cheating?)

    At an ethics class in my undergrad, we were once asked how many of us suspected or actually witnessed cheating in some form or another. A supermajority of kids had suspected peers of cheating, while about half of us claimed to have actually seen it. Hence ...

    95 comments - 0 silver bananas - Sep 15 2012 - 3:50pm -

  7. But why aren't there activists?

          A recurring theme to many of my posts on small caps is the reader question "Why aren't activist investors involved?" For a lot of small undervalued situations the solution to undervaluation looks simple on paper. An act ...

    7 comments - 6 silver bananas - Mar 16 2015 - 11:45am -

  8. Is Fraud the Key to Wall Street Success Today?

    I'm really getting tired of writing about this stuff. I'm serious. It's really starting to wear on me. Fraud and criminal wrongdoing has become so prevalent on Wall Street over the past decade that no one even bats an eye at it anymore. In ...

    42 comments - 2 silver bananas - Jul 12 2012 - 8:05am -

  9. Nails off the Rails

    Just when I thought I'd heard every possible Lenny Dykstra horror story, I came across this NY Post review of Nailed!: The Improbable Rise and Spectacular Fall of Lenny Dykstra, and I am completely blown away at the depth of Dykstra's narcissist ...

    10 comments - 2 silver bananas - Mar 26 2013 - 7:45am -

  10. BREAKING: Goldman Charged with Fraud

    The SEC has filed suit against Goldman Sachs, charging the firm with fraud in relation to the subprime mortgage crisis. Specifically, the SEC is alleging Goldman sold securities purposely designed to fail. "The product was new and complex but the dec ...

    67 comments - 0 silver bananas - Apr 16 2010 - 10:51am -

  11. What would you do if you found out your company is doing something illegal?

          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 jo ...

    37 comments - 0 silver bananas - Feb 19 2012 - 6:51pm -

  12. Did Fuld Commit Perjury?

    mod (Andy) note: "Blast from the past- Best of Eddie"- This one is originally from April 2010. If there's an old post from Eddie you'd like to see up again shoot me a message. Here's a nice bombshell allegation from a former Lehma ...

    5 comments - 0 silver bananas - Mar 15 2014 - 9:00am -

  13. GS to Settle for $5 BILLION?

    I've got nothing concrete on this, but there's a rumor Goldman is willing to cough up $5 BILLION to make the fraud case go away. That's right, kids, NINE FUCKING ZEROES. That is unbelievable. I saw it at the bottom of the Daily Short Report ...

    20 comments - 0 silver bananas - Jun 10 2010 - 5:30pm -

  14. Modern Day Bucket Shops

    It's not often something shocks me in the world of finance any more, but it happened yesterday. Omer Rosen, a former corporate derivatives guy from Citigroup, aired some very dirty laundry. How dirty? I've got a former boss doing nine years in t ...

    15 comments - 0 silver bananas - Feb 5 2011 - 3:20pm -

  15. Another HF fraud case... this time it's Frederick Douglas

          You can't make this shit up. http://www.cnbc.com/id/100792619 fraud scandal hedge fund fraud ...

    13 comments - 0 silver bananas - Jun 6 2013 - 4:23pm -

  16. Donald Trump is a Complete and Total Embarassment

          http://www.realclearpolitics.com/video/2011/04/11/... To anyone who actually thinks that Trump is a worthwhile human being, watch this video. What a fucking disgrace. fraud perception ...

    171 comments - 0 silver bananas - Apr 12 2011 - 8:26pm -

  17. Goldman to Settle for 9-Figures?

    From Barry Ritholtz's blog: http://www.ritholtz.com/blog/2010/05/gs-seeks-to-p... Forget the settlement, I want to know this: Who was the dipshit lawyer that advised Goldman Sachs to fight this tooth and nail? Was it some executive who simply charged ...

    11 comments - 0 silver bananas - May 28 2010 - 8:20am -

  18. Selling item for heft sum- Guy wants to pay with Cashiers Check

          I have sold an item on Ebay for a substantial amount of money. The buyer is flying into town to pick the item up himself. He wants to bring a cashiers check. The buyer will be flying in after banks close, so I wont be able to call a b ...

    19 comments - 0 silver bananas - Aug 7 2011 - 10:09pm -

  19. SEC Should Take Goldman Sachs Olive Branch and Run

    It's being reported that Goldman Sachs has opened a back channel of communication with the SEC, and may be offering to cop to a lesser plea and pay a fine in order to make the Abacus fraud case go away. If there's anyone with any brains at the S ...

    9 comments - 0 silver bananas - May 10 2010 - 4:22am -

  20. Muddy Waters Is Back: FSIN

          Muddy Waters released their latest short selling piece on FSIN. Interesting that 2 hours after the release the name popped up to $7.4 from its opening price of $5.8. Unless someone is covering, kind of counterintuitive. People brushin ...

    13 comments - 0 silver bananas - Apr 10 2012 - 2:49pm -

  21. Good investment?

    http://finance.yahoo.com/q?s=CCME So I'm looking at a Chinese advertising company that went public through a reverse merger. The company is Nasdaq-listed, but doesn't have analyst coverage from any major banks. The only firms that seem to follow ...

    23 comments - 0 silver bananas - Feb 4 2011 - 10:23am -

  22. Mutiny at Citigroup?

    The story of Citigroup is one of greed and stupidity for nearly their entire history (if you doubt that you haven't read Exile on Wall Street). So I guess we shouldn't be shocked to find out that upper management at Citi sold their own people do ...

    6 comments - 0 silver bananas - Dec 13 2011 - 8:13am -

  23. IBs, FCMs, and the Impact of MF Global

    Happy Thanksgiving, guys! I thought I'd take this market holiday to cover the mechanics of the brokerage relationships in the futures markets, especially as they relate to the potential impact of MF Global's missing millions. With the tally now ...

    6 comments - 0 silver bananas - Nov 24 2011 - 8:11am -

  24. Goldman vs Morgan Stanley (Scenario A or B)

          As a new analyst, if you had your choice, would you rather work for Goldman Sachs (assuming they have 50/50% chance of guilt) or Morgan Stanley (not a fraudster)? SCENARIO A What would your answer be assuming GS is found guilty and st ...

    18 comments - 0 silver bananas - Apr 19 2010 - 2:03pm -

  25. SEC to Allow Crowdfunding Stock Offerings

    http://www.usatoday.com/story/money/business/2013/... Does anyone else see this move opening the door to thousands of small time fraudsters? sec fraud ...

    5 comments - 0 silver bananas - Oct 23 2013 - 6:20pm -

  26. The Starr Report

    For the younger members who don't know or the older guys who can't remember, Kenneth Starr was the lawyer who tried to get Bill Clinton impeached a little over a decade ago. America obsessed about Bubba and Monica, with Mr. Starr as the ringmast ...

    6 comments - 0 silver bananas - Jul 27 2010 - 12:07pm -

  27. Fraud Is In the Air

    Can you smell it? As bankruptcy hearings go, Lehman's is turning into a doozy. I think we're starting to see why the banks are so opposed to disclosure. First came the accusation that Barclays induced then-Lehman employees to understate the valu ...

    6 comments - 0 silver bananas - Apr 15 2010 - 4:38pm -

  28. Safest Place To Find A China Investment Banking Job?

          Hong Kong or Shanghai? Which is better and why? I read so many horror stories about employment fraud. Any suggestions from someone who made the journey already? Help Banking PE china job investment visa abroad work fraud tips suggesti ...

    5 comments - 0 silver bananas - May 30 2013 - 6:28am -

  29. Prime Brokerage Stories: Big Mack and the Phantom Pricing

    This is the first of a series called "Prime Brokerage Stories," real-life experiences from a close family member of mine who has worked in this area of the Street for about 30 years. You'll hear about the frauds he uncovered, the laughs he ...

    3 comments - 2 silver bananas - Jul 30 2013 - 12:25pm -

  30. The Untold Story of Goldman's Relationship with Baidu

    Much has been said today about Goldman Sachs dubious financial practices, but most have not heard about Goldman's involvement in the initial public offering (IPO) of Baidu and the subsequent BIDU share price movements. Goldman Sachs and Piper Jaffray ...

    7 comments - 0 silver bananas - Apr 16 2010 - 4:40pm -

  31. Game over man! GAME OVER!

    Token: I'm not playing anymore. Stan: Uh, well wait, what'd you see? Token: I don't know, I don't wanna know. I'm out. ~South Park Season Season 6 Episode 15- The Return of the Fellowsihp of the Two Towers Two great quotes is neve ...

    8 comments - 0 silver bananas - Sep 30 2010 - 3:34pm -

  32. Allen Standford to spend 110 years in jail

          http://www.reuters.com/article/2012/06/14/us-stanf... Oh my.. 110 years sentence. What good is all that money now? I always find it funny when someone's sentence to more than human beings' life span. : Prosecutors had a ...

    5 comments - 0 silver bananas - Jun 14 2012 - 2:46pm -

  33. BoA Emails Leaked Monday

          Hacker activist collective Anonymous is leaking emails related to fraud and abuse of Bank of America 's mortgage business on Monday according to a spokesman (speaking on condition of anonymity of course). Thought you guys might w ...

    6 comments - 0 silver bananas - Mar 13 2011 - 11:38pm -

  34. Sam Antar of Crazy Eddie Spills

    Sam Antar is a bad man. I don't expect many of you to recognize the name because even I was still a teenager when he was executing massive securities fraud. He was one of the criminal masterminds behind New York's famous Crazy Eddie scam. He was ...

    4 comments - 0 silver bananas - May 24 2010 - 6:07am -

  35. Goldman Responds to SEC

          Goldman's strongest defense seems to be the fact that they lost more than $90 million on the deal and only received $15 million in fees. Quoting their press release: " Goldman Sachs Lost Money On The Transaction. Goldman Sac ...

    7 comments - 0 silver bananas - Apr 17 2010 - 12:00pm -

  36. Fraud on Wall Street?

    In the latest issue of Rolling Stone, the magazine's financial reporter, Matt Taibbi, writes a story called "Wall Street's Naked Swindle," in which he claims that evidence suggests that there was massive manipulation (specifically a wh ...

    4 comments - 0 silver bananas - Oct 2 2009 - 8:59pm -

  37. Fooling some of the people

          Alright, I know this is pretty "late", but I just finished reading Einhorn's book and I'm pretty pissed off at ALD and the respective regulators. Did anyone else who read the book feel this way? Or am I being naive ...

    3 comments - 0 silver bananas - Dec 23 2012 - 6:49pm -

  38. MF Global: 1.2B missing

          I saw a flash across the Bloomberg that said the MF Global trustee is thinking that roughly $1.2 in customer funds is "missing." I know that fund accounting is very complex and I'm sure that some of the money will turn ...

    3 comments - 0 silver bananas - Nov 21 2011 - 11:28am -

  39. Goldman? Pfff, Here Are The Real Threats

    I don't know why all this hullabaloo involving Goldman is getting so much press; if Goldman is guilty of anything, it's guilty of loving too much. Nevertheless, beware: danger is afoot. The number of threats to American values and pocketbooks ar ...

    2 comments - 0 silver bananas - Apr 16 2010 - 11:23pm -

  40. Another Geriatric Hedgie on the Lam

    What is it about the retirement gulag we call Florida that attracts thieving geezers like Bernie Madoff and now Arthur Nadel? Nadel is on the lam now that it has come to light that he was running a $350 million scam in the shape of a group of hedge funds. ...

    2 comments - 0 silver bananas - Jan 18 2009 - 10:09am -

  41. How Bernie Lost Those Measly $50 Billion

          John Carney of Clusterstock.com explains how Bernie Madoff could have possibly lost that much money at a small family shop. With colorful graphs! http://clusterstock.alleyinsider.com/2008/12/how-b... wall street bernia madoff ponzi sc ...

    2 comments - 0 silver bananas - Dec 12 2008 - 4:57pm -

  42. Internship GoAbroadChina GAC Bad experience- no internship

    Hello everyone, I had a very bad experience with GoAboradChina (GAC) and I'd like to share my experience to enable you to make the most suitable choice if you are looking for an internship in China. I also hope to post this in the right place of the ...

    0 comments - 0 silver bananas - Feb 6 2015 - 12:41am -

  43. Leaked Goldman Abacus presentation

          If anyone is interested, here is the link to the leaked presentation on the Goldman Sachs Abacus deal that has been getting so much attention lately. http://www.scribd.com/doc/30054003/Abacus-2007-AC1... Goldman Sachs fraud ...

    2 comments - 0 silver bananas - Apr 18 2010 - 2:09am -

  44. Hall of Fame Con Men: Mark Morze – Part 2 of 2

    (If you missed Part 1, you can find it here) So, what about the CFO of ZZZZ Best? In part one I wrote about the headlines that many may have seen in any business or auditing class teaching about famous stock frauds. But in this particular case, there is s ...

    1 comment - 1 silver bananas - Jun 16 2013 - 8:04pm -

  45. Con Men Hall of Fame: Barry Minkow – Part 1 of 2

    As the CEO of a $300mm company by the age of 20 in the 1980s, he committed one of the most publicized fraud cases on Wall Street by the time he was 22, convicted of 57 counts of fraud and off to federal prison for 25 years. Since then, he's been help ...

    0 comments - 0 silver bananas - Jun 16 2013 - 10:46am -

  46. Setting the standard is not enough- The Vander Weele Group

    "Setting the standard is not enough. It must be tested. It must be monitored." Keeping an organization efficient, effective, and in compliance with government and customer mandates requires vigilance. It begins by setting and communicating stand ...

    0 comments - 0 silver bananas - Dec 23 2013 - 8:04pm -

  47. Trying to value Cincinnati Bell (NYSE:CBB)

    Was hoping that you fine gentlemen could potentially help me with some difficulties that I'm having with this valuation. I was tasked with valuing CBB as a stand alone entity. The Details: CBB spun off CyrusOne (CONE), which it acquired in 2010, in J ...

    0 comments - 0 silver bananas - Aug 18 2014 - 10:21pm -

  48. Brightlife Energy Corp?

    Does anyone on here aware of who this is? I believe it's a fraudulent business, and can see they manage "dating" sites. Just curious if anyone have had experiences with this.... This is pissing me off as I've been getting fraudul ...

    0 comments - 0 silver bananas - Aug 8 2014 - 6:14pm -

  49. NQ Mobile (NYSE: NQ): Bang or Bust?

          I am wondering what WSO's opinion is of NQ Mobile, especially after the MW report? Are any of you long/short NQ? NQ: http://www.nq.com/ Muddy Waters Report: http://www.muddywatersresearch.com/research/nq/ini... fraud ...

    1 comment - 0 silver bananas - Dec 4 2013 - 2:55pm -

  50. Busted Bankers

          Have you guys read this artcicle abut the busted bankers? http://www.businessinsider.com/anglo-irish-bank-ta... this only confirms my view that the game is rigged and the key is not to get caught. What are your thoughts? fraud ...

    1 comment - 0 silver bananas - Jun 24 2013 - 2:49pm -

  51. Savings account compromised

    Random question, but I guess this is what the monkeying around section is for... My savings account at one of my banks had some fraudulent activity on it. Luckily I had exactly $0 in the account at the time (was moving some money around), but it appears t ...

    0 comments - 0 silver bananas - Dec 12 2012 - 12:47am -

  52. Chinese Rogue Trader Sentenced to Death- A little excessive IMO

          http://www.dailymail.co.uk/news/article-2126204/Ch... fraud ...

    1 comment - 0 silver bananas - Apr 10 2012 - 9:43am -

  53. Another Delta One Trading Scandal: UBS loses $2B

          http://www.thesun.co.uk/sol/homepage/news/money/38... UBS-trader-Kweku-Adoboli-nicked-after-13bn-losses.html What's with Delta One causing this? Unusually lax risk controls there? UBS trading fraud delta one ...

    1 comment - 0 silver bananas - Sep 16 2011 - 2:42pm -

  54. Barry Minkow- Another Milken-minion bites the dust... again

    Old habits really do die hard. One thing is for sure, this guy has one hell of a story. Must be a brilliant guy- one has to wonder why he's so damn stupid. 1988: [quote] ...

    1 comment - 0 silver bananas - Jul 22 2011 - 9:56am -

  55. Weekend At Bernie's Ponzi Scheme

          Supposedly the SEC and the FBI received letters several times over the last few years saying something to the extent of "Bernard Madoff is running a Ponzi scheme." Reminds you of Condi Rice's 'Osama bin Laden deter ...

    1 comment - 0 silver bananas - Dec 12 2008 - 4:50pm -

  56. Mann International: Finance SCAM

          know there has been alot of this sort of investment fraud going about (Smart Trade Group, Sun Worldwide, First Prime Group...etc, etc) They have another one going called Mann International. These are well spoken english and american/c ...

    1 comment - 0 silver bananas - Aug 23 2010 - 8:07pm -

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