When I spoke with the NFA enforcement attorney earlier this year, he mentioned that the problem was fairly prevalent in those days. Evidently, there were numerous investigations of money managers at that time who were, quite curiously, racking up winnings in their own private accounts while simultaneously disappointing managed money clients. Apparently, it was quite de rigeur among the unscrupulous operators of that period because of the lax time stamp issue at the time. Collusion was difficult to prove because the paper trail was created by the two foxes in the hen house -- the money manager and the broker. Of course, Larry would never do such a thing even though, as luck would have it, he left the same snail trail. But life is full of coincidences, right? Time stamps are much more rigorously enforced these days. On a completely unrelated note, I wonder if Larry will enter another contest again any time soon.
time stamp did not matter then. The pit broker, for instance, puts on a sell and buy order simultaneously in the same futures contract, say T-bonds (at the time). Both get stamped accordingly. No problem. At the end of the day he puts the loser in one and the winner in the other account. Just ask Hillary.
Rumor has it that he may be entering the world cup challenge in 2007. But it may be hard to repeat the same results from behind bars.
he is out on bail in australia. if i were he, i will give up the full tax stupid american citizenship and run!