David Ganek lost his hedge fund after getting caught up in an insider trading investigation. Now he’s suing. The anger is always lurking just below the surface for David Ganek. And as the pugnacious money manager begins to recount the events that led him to lose his hedge fund business, his influence as a patron of contemporary art, his status in Manhattan society, and some of his longtime friends, it threatens to boil over. We’re sitting in a large conference room in Ganek’s office on the 45th floor of a Midtown Manhattan office building, just a few blocks away from where he used to preside over the $4 billion Level Global Investors fund. Ganek took the space a few years ago as a home base for managing his own portfolio and overseeing his charitable work. But it still has a temporary feel, as if he’s just camping out. There isn’t the chic modern art on the walls that one might expect from a noted collector, as Ganek has been for years. And the quiet is almost eerie. Other than the receptionist, there doesn’t appear to be anyone else around. It feels strangely still for a natural-born trader who used to live his work 24/7, monitoring a “constant ticker tape of communication.” http://fortune.com/david-ganek-preet-bharara-insider-trading/
What a jerk. Tons of people are investigated or raided and stand up, dust off their pants and go on with work and life. If we was such a hotshot he would have simply communicated to his investors and proven to him that he is not guilty because he was never convicted of any crime. Just another xxx who cannot get his mouth full enough. In fact he should probably have been happy the raid did not lead to any charges and conviction. Just another cost to the system that fucks with our tax dollars
Disagree, Bro. Its about time someone stands up to over zealous prosecuters who are trying to become media stars and fights back. Bravo to David Ganek-- much power to him!
people don't want to be associated with someone who is in the cross hairs of the government. are you telling his wife and children to just dust it off. he lost his business. people lost their jobs. ganek. the accused, should be grateful? the prosecutor wasted the taxpayers' dollars on a shoddy case. the government should pay for malicious prosecutions. would you be so nonchalant and calm , if police broke to your house because of an unreliable tip? doubtful.
I disagree with you. I've seen a lot of how equity hedge funds work in the US and the vast majority of them beating the index is based on insider information. Similar or not worse happens in fixed income funds. Until a few years ago you even had brokers of information you could pay 250k to talk to the ex-CFO of company X or Y as a "consultant"
So the world is crooked, who knew? Shocking news. In other news, people eventually die of old age. All of those screaming foul should go and live the life of a 3rd world worker for a year and see how long it is before you bend your ethical stand.
Hardly any prosecutor attempts to be a media star. They are doing their job to recover money that would have otherwise been swallowed up by criminal elements. In this case the raid did not seem to lead to enough evidence to convict. There must have been enough evidence to justify a raid. Nothing to be seen here. Move on folks.