Insider Trading: Barai, Longueuil, Freeman, Pflaum - futures io
futures io

Insider Trading: Barai, Longueuil, Freeman, Pflaum

Discussion in Traders Hideout

    1. trending_up 3,749 views
    2. thumb_up 0 thanks given
    3. group 0 followers
    1. forum 1 posts
    2. attach_file 0 attachments

Welcome to futures io: the largest futures trading community on the planet, with well over 125,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

(If you already have an account, login at the top of the page)

Search this Thread

Insider Trading: Barai, Longueuil, Freeman, Pflaum

(login for full post details)
  #1 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
Big Mike's Avatar
Posts: 50,131 since Jun 2009
Thanks: 32,602 given, 98,792 received

This is a pretty interesting read, particularly the quotes from the FBI from the BlackBerrys of the guys who allegedly pulled this off.

Insider Trading Accusations Describe Network Of Corruption

In a pair of documents, the Securities and Exchange Commission and the Federal Bureau of Investigation describe an illegal exchange of information, which allegedly allowed hedge funds to reap $30 million in profits. According to the Federal complaints, employees at publicly traded technology companies sold secret information about those companies to workers at hedge funds, which then used that information to make big trades in the companies' stock.

The FBI documents add more color to the accusations. In November last year, after he read about the probe into insider trading, Barai allegedly wrote to Pflaum from his BlackBerry:

- This scope is said to focus on the use of so-called expert network firms - Concern for years that some experts may be passing out confi [meaning, confidential] info about to go public cos [meaning, companies] to traders.... - [The Firm] was only one named!!!! - F*****ck

The next morning he said, according to the FBI:

- Didn't sleep much either. - I dunno - I think we ok tho - I think U just go into office - Shred as much as u can
He also said, according to the FBI:

- Let's not worry.... - No evidence we got exact info - So it doesn't matter.... - Forget the past - No proof - So ur fine
During a conversation between Freeman and Longueuil, which they recorded, they describe how to destroy electronic evidence, the FBI says. From the document:

Freeman then remarked, "I don't see how you get rid of this sh*t," to which LONGUEUIL explained, "Oh, it's easy. You take two pairs of pliers, and then you rip it open ... and then, it's just a piece of NAND. ... So I just f*cking ripped it apart right there. ... I had two external drives that had like wafer numbers on 'em. F*ckin' pulled the external drives apart. Destroyed the platter. ... Put 'em into four separate little baggies, and then at 2a.m. ... 2a.m. on a Friday night, I put this stuff inside my black North Face [u/i] jacket, ... and leave the apartment and I go on like a twenty block walk around the city ... and try to find a, a garbage truck ... and threw the sh*t in the back of like random garbage trucks, different garbage trucks."

Longueuil and Freeman have been accused of insider trading while they were employees of SAC Capital Advisors, the $12 billion hedge fund run by Steven A. Cohen. The company released a statement saying it is "outraged by the alleged actions of two former employees, which required active circumvention of our compliance policies and are egregious violations of our ethical standards."

Source: Insider Trading Accusations Describe Network Of Corruption


We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:

Visit other sites? Please spread the word about your experience with our community!
Follow me on Twitter Visit my futures io Trade Journal Started this thread Reply With Quote

Can you help answer these questions
from other members on futures io?
Questioning Conventional Wisdom
Treasury Notes and Bonds
Time Segmented Volume
For the experts of Metastock
Platforms and Indicators
1 min chart v-shape scan help please
TradingView help in improving Anchored Vwap
Platforms and Indicators

futures io Trading Community Traders Hideout > Insider Trading: Barai, Longueuil, Freeman, Pflaum

Last Updated on February 9, 2011

Upcoming Webinars and Events

NinjaTrader Indicator Challenge!


Your Charts Should Speak To You w/Bob Cometta

Elite only

Our 12-year anniversary w/ $$,$$$ prizes (check soon)


Copyright © 2021 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada),
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts