SAC Sex Scandal Probe Nears Completion

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.


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    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…