Do I have a case?

Discussion in 'Professional Trading' started by BPtrader, Nov 12, 2009.

  1. A friend of mine who works at a hedge fund reached an agreement with me: If I provide inside information to him and he makes any profit, he will share 50% of the profit with me.

    So today I called him 5 minutes before 11:00am and gave him the precious inside information on oil inventory. I told him that the inventory is up big time and that the market would tank big time after the report was made public 5 minutes later.

    (Where did I get the inside information? Well, I would like to keep it a secret. Suffice to say that I paid big money for this information).

    Anyway, I gave my hedgie friend the inside information and he shorted 200 contracts right away (one of his secretaries told me). I don't know when he covered, but I am sure he made a huge amount of money. But he told me he didn't act on my inside information and that he didn't make a dime. Basically he refused to pay me!

    My question is: Can I sue him for violating our agreement? Do I have a case to bring him to court?
  2. PPT




    This is why I read ET. Soooooo dumb.

    Immediately call the SEC and report him!!!!!!

    I'm sure they will let you off the hook.

    ET, I want this dude's IP address on the desk of an FBI agent in 7 MINUTES!!!!

    i like bumping these stories.
  3. Run & hide
  4. Bizzare post to say the least.
  5. okay, now I've seen everything on this site.

    This must be a joke.
  6. Definitely! You should contact the SEC and a lawyer and tell them exactly what you said here. I suspect you'll get what's coming to you :)

  7. Can you post some insider heads up here also for all your fellow ET members.
    We will even give you a cut of the profits ok. . . . uhhhhh . . . uhmmm . . .promise. . .
  8. Bob111


    50% before or after taxes?:p :p :p
  9. Hilarious thread!

    IF this story is actually true, you are a real sucker for giving up that info for free, especially when you paid big time!

    Question: IF this story is true, why didn't you leverage yourself to the tits and short the thing yourself?
  10. PPT


    we need to keep bumping this thread.

    OK, call a non-emergency number and say this guy basically stole your money and you need to get your money.

    later, you might hear about some "poison tree"...forget all that.

    i would hire a lawyer immediately, call the guy's hedge fund (after telling us who it is), and get your money!!!!!

    Note: if the FBI reads this thread for evidence, hey guys!!


    ET, do something!!! don't promote criminal acts!!!
    #10     Nov 12, 2009