Most Illegal (or unethical) Thing You've Witnessed on the Job
Lol definitely want to hear what some of you have to say about this. I'm sure there are some good stories out there.
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Hah! Nice try, mr. SEC-man.
"#ThotAudit"
Stop it Karen!
My boss sent out a tweet one time while he was high as fuck talking about how he wanted to take our multi billion dollar firm private. Ended up getting investigated by the SEC over it but instead of providing more info he just live streamed himself getting more blazed. Shit was so cash.
Found Elon's exit opp.
Nice try nationals. These hands don't haze
Lmfao I didn't expect ppl to think I was trying to find something out. Just wanted to hear some good stories.
> How do you do, fellow youths?
In the office kitchen: saw a guy butter his bread; wipe the knife using his bread; then proceed to use the same knife to spread his strawberry jam.
This is why I support more regulation.
Some nice mold spores in the next few days. People are actually weird.
My boss looked up the smoke summer intern on fbook :0
The sec is staffed by cucks
The IRS as well
FACT
I know the comments above are jokes, but it's funny that most people's first reaction to this post is basically locking all of their desk drawers and deleting files
1: “If you caught someone stealing paper clips at work would you report it?”
2: “It depends, how many paper clips?”
1: “What about if you caught someone poisoning kids at work, would you then report it?”
2: “How many kids?”
2: and how long till my bonus is paid, what kind of number are we talking here, am I still top bucket?
i seen a client pay for a customer to get a bj
I saw my someone eat pizza with ketchup once. Had to report.
i sat next to and worked with Primary Dealer traders who colluded with traders at competing banks (but who were personal friends) exchanging confidential client bid info for US Treasury bond auctions (among other things) in an effort to game the auctions and maximize their personal trading profits (this was before all of the libor/gold/fx chat room scandals had become public knowledge).
A few years later (2016 i think) i saw a story in the WSJ about an investigation into the scandal of US traders at Primary Dealers sharing confidential info about client bids in an attempt to collude and fix US Treasury bond auctions...and crossed my fingers that i would never get a phone call from the FBI. Soon after the WSJ story, i got a call from 2 of those involved in the scandal asking to meet up for drinks...but then drinks got canceled and i never heard anything about it ever again.
i'm amazed that we've never heard anything about this...the one scandal the Feds don't seem to care about is us govt bonds.
A Fairness Opinion.
ladies is pimps too
True
We were hiring 3rd year analysts and it came down to two candidates that were pretty close, the Director running the process said we are hiring the girl because we needed to increase the number of women in the team (and bank wide). Fully against the official rules (can't discriminate based upon gender, creed, minority status, etc), but what are you going to do? Side note, she was a really great hire.
Everyone does that. It’s also why a girl can get into Harvard Stanford and tbe identical quality guys best offer might be northwestern.
Having a pussy a huge leg up at getting your foot into the door.
Lol stop making shit excuses for your failures. Fact is you wouldn't be able to get in even if "you were a girl"
Yikes... Use me as a "this man just demonstrated the quickest path to losing all credibility" button
Women have to work twice as hard to be taken half as serious compared to men.
Why was it unethical?
Google Goldman Sachs and Jho Low
I started my career in WM for the employees of some big institutional clients. A lot of it was protecting them from themselves. I saw a lot of scumbag FAs prey on the financially illiterate.
The worst I ever saw was when some scumbag Primerica FA convinced a school teacher six months from retirement to cash in her pension (at an 8% discount rate!) for cash so she could buy a variable annuity from him. Of course this was in late 2008, and he had her put the money in a stock fund for the six months between cashing out and when she could access the cash.
We'd tried to tell her that this might not be a good idea, but she wouldn't listen until the Sh!t hit the fan. the recording of her sobbing was heart wrenching, but she'd brought it on herself. I didn't track her file, but that decision probably pushed back her retirement by five years.
At my past job, our boss would bring in midgets and we would all take turns throwing them against a big target.
" Judo originated in Israel."
Judo originated in 19th century Japan and means ‘gentle way.’
The bank I interned with a couple years ago had full-time Summers unpaid...needless to say it was 10 weeks of 84 hours a week on average for no pay haha. It was an awesome experience, but let's just say I stretched that $25 dinner allowance for breakfast and lunch the next day loooool.
Didn't witness it personally, but a group of A&As from another team at my BB were fired for expense fraud. Big scandal on the floor, and these kids are basically barred from dealing with securities or providing IBK advisory services for life, over not a lot of money.
Wells Fargo? if so definitely not a BB haha
Mate, that's just hurtful, I'd never work for Wells Fargo.
What did they do? I feel like with the current technology/policy around expenses it's hard to get away with much unless you're very senior.
a Pharma bro that i knew took the price of daraprim from $13.50 per pill to $750 per pill. Same guy increased the price of EpiPen by 500% to $600 for a two pack. He also bought the Wu-Tang clan's album and took it private. Guy ended up going to jail for securities fraud.
I thought he went to jail for that haircut
RIP brother Martin :(
Epi pen was merk.
I had an internship and I spent all 4 months eating off the one-day meal card. I complimented the nice gay dude's glasses frames and he let it slide. Didn't get a proper night's sleep all four months.
I interned in ER a couple years ago. The analyst was releasing a report on a company the next day, for which he recently changed the recommendation from strong buy to hold the previous quarter. Next thing you know the CFO of that company calls the analyst and gives him insider information. Next day, the recommendation was switched back to a strong buy.
hahahahahahahahaha thats hilarious.
I discovered a huge multimillion dollar case of theft which eventually led to me leaving the company due to whistleblower retaliation. Never sued because I didnt want that scarlet letter.
Any more details? Not specifics, but...what was the structure of the theft?
Multi-year multi-site materials theft at several industrial facilities. It was obviously orchestrated by one of a few people but it was swept under the rug for the VPs or SVP involved to be protected and a fall guy was demoted.
Let's just say you're a fool if you think "chinese walls" exist in accounting or consulting firms.
I've seen female staff get with married partners.
I've seen it the other way around as well.
It's a cesspool out there.
Not illegal but sketchy but we used to be told not to write anything down and if you put notes in notebook to throw it in the shredder box after you’re almost full and also after revisions put all prior drafts into the shredder. There were also plenty of times we knew things were sketchy (not illegal) and just knew not to talk about it or put it in email
had sex with co-worker that was in long term relationship
if thats all you can bare to divulge about that you are either lying or a terrible lay for that poor woman
I don’t know why they call it “hostile work environment” when near every place of work has varying levels of hazing that leaves employees in poor physical or emotional health... I think that is pretty unethical!
When you are broken down they can rebuild a newer, better version of you.
Here goes nothing hahaha:
I was interning at a BB and a couple VPs took me under their wing since I was a sophomore and they thought I had the potential to be a big shot options trader one day. They took me out for a “night on the town” and we saw some pretty wild stuff
It started off chill but we ended up at a high-class underground strip club and we all fucked this stripper but it was dark and you couldn’t really see her that well. Turns out it was one of the associates on the CMBS trading desk - she had racked up 20k credit card debt and had to pay it down somehow.
It was all good though. I saw her the following Monday and we grabbed coffee. I got her number and and now she’s one of my side pieces. She ended up coming clean with her parents and they helped her pay down the debt. Wall Street is crazy bro haha
Swing and a miss, take a lap
Haha sounds like you don’t know what it’s like working on the Street
Never Happened.
I once saw someone perform surgery on a grape
Clinical Doctor
edit
Scumbag Principal in my old group would use financials from companies we pitched to include in other pitches / decks.
On my first consulting engagement, the sketchball firm I was working for put too many of us on a project to maximize billings but never officially told our client I had joined in an effort to conceal their overbilling. I couldn't get a building badge or parking access for 2 months because the client didn't know I existed because I wasn't in any of their systems lol
And the client happily paid for a consultant they didn't even know existed? What you said makes no sense.
Yeah they did. The firm brought on new people every few weeks and ppl quit just as frequently so the client probably just couldn't keep track.
on the job? not in my office but at my firm - woman advisor (who was a MD, btw) was cheating on her husband with a billionaire client (who was also married to someone else), ended up churning her account (making lots of trades over what's necessary to generate excessive commissions), taking money from him to fund her lifestyle, and kept all of this up until the client died and the kids started reading the statements and looking at historical activity. BUSTED. had all kinds of awards rescinded, lawsuits, etc., long story short she'll never be in PWM again
Way back when the trees were still green, at a different firm, a senior rates trader (call him Jim) brought a girl to the office for some old fashioned entertainment. Not sure why, my guess is for kicks. Apparently, two weeks prior security cameras were installed on the trading floor, security got involved and HR wanted fire the dude. Rumor has it that the head of FICC, after watching the VCR tape, said "that's not him - Jim made 30 million for us this year, I am sure I'd recognize him". Back then 30 million PnL was real money, you know.
hahaha I figured my firm would be made obvious at some point, let's just keep that between us girls.
great story btw
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