Friday, 28 November 2014
Last updated 18 hours ago
Dec 10 2007 | 8:07am ET
A federal investigation into the sensational sex scandal that rocked SAC Capital is drawing to a close, and people with knowledge of the probe say it could go either way.
CNBC’s Charles Gasparino reports that the Equal Employment Opportunity Commission’s two-month-long investigation should be completed within two or three weeks. The EEOC is looking into former SAC trader Andrew Tong’s explosive allegations against his old boss, top SAC manager Ping Jiang. Tong alleges that he was sexually assaulted at work, and that Jiang ordered him to take estrogen pills and wear women’s clothing in an effort to curb his aggressive trading habits.
Tong, who is married, also alleges that he and Jiang had a sexual relationship.
Sources tell CNBC that the EEOC is undecided as to whether there is “reasonable cause” to believe Tong, and whether it will join his lawsuit against SAC.
Nov 4 2014 | 9:45am ET
Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…
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