I heard from someone that works at this firm that there is a lot of dirty stuff happening and that some o f the upper management is being let go. I sthere anyone that can confirm these rumors?
The rumor I heard was that Jay Amore had made a terrible trade and buried it among various customer accounts over which he had discretion by splitting it up and putting some of the loss in various accounts. Also that he is not even registered even though he is the CEO. These are serious accusations that have not be substantiated by anyone. I heard this through a friend that went there as an office manager recently and is thinking of leaving because of the things he sees going on. I hesitate to write this as it is a rumor and not a fact at this time.
Also that he is not even registered even though he is the CEO That my friend is TRUE If you trade in downtown Manhattan, just check out their office and see what the prop group does. You'll know why people call it DIRTY.
Can anyone supply a link to an actual news article? My dad used to trade with AB Watley and I wanted to find out some hard facts? Anyone? rttrader -
I don't have the link, but the company announced that Amore was removed as CEO today. This comes from a trader at the firm. Still not substantiated. Check Dow Jones.
Well, The best way to find out is to call the office and ask for Mr. Amore Telephone Number: (212) 422-1100 And ask if his Head Trader Keith is out of rehab yet. Mr. Amore came in when the Stock was trading at $2, now it's in the pinks and trading at .45 The company should just fold and move on, you can only scam folks for so long. The is a rumor that a big hedgefund manager there may take an interest in the company. Again, rumors are rumors and they're spread from within the company, not me.
the place is full of sheisters... i was an employee there for a looooong time... didnt find out much of this until past few months... once i saw the big picture i made sure i was out of the picture... its true the ceo isnt registered its true about rehab... i m not sure about the trades going into customer accnts... however a lot employees were let go and are having to deal with serious fines from the sec...
I used to work at Watley too. I was in the back office and can say that people will go to jail. I was not registered and am very thankful I wasn't. The SEC has been in there. As soon as I heard of the impropriety going on, I was gone. J Amore was being investigated as well as some of his stooges. I wouldn't own 1 share of that company. Not even sure it's trading anymore.