Arrested while on the job
Hello:
2nd+ year associate, got arrested recently while working at a LMM PE firm, got arrested for felony drug possession (bs charge, not even felony weight, but it is what it is) and misdemeanor driving while ability impaired (drugs). The short of it is the felony got dismissed and I’m currently in pre-trial which will last for ~8-9 months or so, in order to like, stay out of jail. Already plead guilty to DWAI, which will remain on my record. Otherwise, record is clean. So, just the one conviction for DWAI will remain.
I’m in NY state and can’t get anything sealed until 10 years pass. I am okay staying with my current firm for a while until this gets resolved.
Am I totally fucked forever here - can’t see myself not being in PE/buyside.
Does anybody know people with similar experiences and if another firm would hire me, ever?
Is there any reason why I may have to take a random background check at my current firm, for ANY reason?
Thank you all in advance. I realize I made a huge mistake, and trust me, I regret it sincerely. Want to avoid the lecturing, if possible.
Sorry to hear about this, and wish you the best. I'm just an incoming intern, so take this with a grain of salt - just want to give u info I have personally experienced to help you make the best decision possible. I'm gonna be working at a buy side firm this summer, and had to have an extensive drug test and also background check of prior employment and general legal issues. I guess what I'm trying to say is, if they are doing this for a summer analyst, they probably also do it for full time people as well. So, I feel as though it may come up to be honest.
ok fed
I have personally heard of folks getting offers rescinded over stuff like this to the extent you do want to make moves (fwiw these couple examples ended up on their feet okay / still on the buyside). It will really depend on the firm imo.
Regarding current firm, I would be very surprised if they would make you take a background check. LPs often do run partner-level background checks (although that would be a ways away) and international work travel can get tricky with a spotty record (Canada has heavy restrictions on US entrants with DUIs for example).
Do you have to do an annual compliance checklist? We do at my firm, but its only for a felony (I've you been convicted for one, check yes). Misdemeanor is not on there.
I'm not sure how your current firm would find out tbh.
I work in PE. Have moved around funds too. I got charged with a felony at 18. I also got a DUI recently. When I got DUI at last fund, no issues and no one became aware. When I joined new fund they did background check... people in this industry will ask the right questions and hear your side of things. Just be able to talk about it and it won't be an issue, had no issues getting hired at new fund. If you stay put, it won't become an issue until LPs start to background check you at the VP level. Then you need to craft same story. Keep your head up, man. and for compliance -- check no for everything, you are pre-trial
Fucken legend
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