Amazing SAC Capital Cross-dressing and Sexual-Harassment Suit Resurfaces (Updated)
* 12/4/09 at 12:04 PM
http://nymag.com/daily/intel/2009/12/youll_have_to_give_me_a_blow_j.html (http://nymag.com/daily/intel/2009/12/youll_have_to_give_me_a_blow_j.html)
There are dark and disturbing things lurking in the waters at SAC Capital Advisors in Stamford, Connecticut, and we're not talking about its billionaire founder's shark in formaldehyde. Recently, the spotlight was shone on the notoriously secretive hedge fund when a former employee became a cooperating witness in the Galleon Group insider-trading case, and today, Reuters reporter Matthew Goldstein unearthed recently unsealed documents from a 2007 sexual-harassment complaint filed by former SAC trader Andrew Tong against his boss, portfolio manager Ping Jiang, which not only list his specific allegations in graphic detail but paints a picture of a culture that encouraged people to be so single-minded in their pursuit of profit that they became not only capable of dismissing moral and ethical standards, but also basic human decency.
"Steven Cohen only wants us to make money, he doesn't care or want to know our secrets to make money," Tong quotes his former boss Ping Jiang saying in the complaint. In Jiang's case, Tong says, those secrets included a distinctive "training program" to which he was subjected during his first year as a trader.