Man bites dog
By Chris ClairI kid, my hedge fund friends, I kid.
Still, here’s something you don’t see every day: an individual ripping off an investment firm. Bernie Madoff obviously perfected the routine … well, up until the point he was arrested. But Rabbi Milton Balkany has made a good effort. He told the New York Daily News that the charges were “ridiculous.”
Regardless, Balkany has his own Wikipedia page, and in the true spirit of the medium, it’s already been updated, complete with footnotes, with information about the alleged extortion.
Thus far the hedge fund has remained unnamed, although Clusterstock, citing market chatter, suggested it was … wait for it … SAC. Who else? If there’s a hedge fund story that even mentions “insider” and “trading” within a couple of paragraphs, everyone suspects it’s SAC.
