£100,000Our owner being out on 1 million dollar bail is not a great look though, is it?
Dunno. There was a court appearance and a date set.This has Bern rumbling on for years, yet nothing ever comes of it.
If it's insider trading you're bothered about, look no further than our former Chancellor and current Prime Minister and the whole raft of contracts going to his family from Government.
Cheers for insight. Hopefully nothing to worry about then.There isn't much to see here. LaRocca is accused of insider trading when he was at Segantii. Simon Sadler will automatically be named as part of any investigation due to his role as CIO. LaRocca will probably walk the charges, and his new employer, JPMorgan seem to think so given they made him their new head of APAC a few months back.
It's very inside baseball, but there really isn't anything here.
Possible. Feels like the SFC got caught with its pants down when Segantii’s name came up in connection with the US investigation (which seemed to conclude that the hedge funds did nothing wrong). Still not good reputationally, even if it goes nowhere.There isn't much to see here. LaRocca is accused of insider trading when he was at Segantii. Simon Sadler will automatically be named as part of any investigation due to his role as CIO. LaRocca will probably walk the charges, and his new employer, JPMorgan seem to think so given they made him their new head of APAC a few months back.
It's very inside baseball, but there really isn't anything here.
Just to be clear he is not Head of JP Morgan APAC, he is head of part of the trading team.There isn't much to see here. LaRocca is accused of insider trading when he was at Segantii. Simon Sadler will automatically be named as part of any investigation due to his role as CIO. LaRocca will probably walk the charges, and his new employer, JPMorgan seem to think so given they made him their new head of APAC a few months back.
It's very inside baseball, but there really isn't anything here.
But they don't own our football clubThis has Bern rumbling on for years, yet nothing ever comes of it.
If it's insider trading you're bothered about, look no further than our former Chancellor and current Prime Minister and the whole raft of contracts going to his family from Government.
It looks to me as if Sadler is named as a defendant and his bail set at 1million HKD, much more than La Rocca’s. So it seems to me that his involvement is much more than just a regulatory necessity. If the document in the op is genuine, then this looks pretty serious.There isn't much to see here. LaRocca is accused of insider trading when he was at Segantii. Simon Sadler will automatically be named as part of any investigation due to his role as CIO. LaRocca will probably walk the charges, and his new employer, JPMorgan seem to think so given they made him their new head of APAC a few months back.
It's very inside baseball, but there really isn't anything here.
Don’t the redemptions Segantii has been seeing suggest it didn’t come out of the blue?Just to be clear he is not Head of JP Morgan APAC, he is head of part of the trading team.
Although the point about why would JP Morgan appoint if they knew is valid.
Unless charges came out the blue and they didn’t know.
The one 2 years ago, was some organisations stopping trading with the fund wasn't it?. Although I think the reports suggested there was no wrong doing, just nerves around block trading investigations on wall street.Its not a massive shock to be honest, I heard this was going to be happening about 2 years ago, that actually coincided with the club trying to compete on the cheap
Its a very murky world that our owner operates in
Now where have I heard that before.Not sure that's right Allez
This is a criminal prosecution albeit in a foreign jurisdiction
I don't no specifics just that i was told by someone who moves in the same circles that he was in trouble hence him leaving Hong KongThe one 2 years ago, was some organisations stopping trading with the fund wasn't it?. Although I think the reports suggested there was no wrong doing, just nerves around block trading investigations on wall street.
This one appears to be relating to a trade in 2017
Yes. There have been reports in the financial press about investigations before. I think Bank of America and Citigroup suspended trading with Segantii at one point.Its not a massive shock to be honest, I heard this was going to be happening about 2 years ago, that actually coincided with the club trying to compete on the cheap
Its a very murky world that our owner operates in
That's OK then. Good to know you aren't bothered that your taxes are siphoned off.But they don't own our football club
Innocent until proven guilty is about right. As a detective said in our house in regard to corruption in Blackpool “What we know to be true and what we can prove in a court of law are two different things.”It looks to me as if Sadler is named as a defendant and his bail set at 1million HKD, much more than La Rocca’s. So it seems to me that his involvement is much more than just a regulatory necessity. If the document in the op is genuine, then this looks pretty serious.
That said, innocent until proven guilty and insider trading in the U.K. is very difficult to prove. If the law is the same in HK then the SFC will have an uphill task. If securities/investors in the USA are involved then that’s a whole new ball game.
I’m actually quite concerned.
I blame the civil servantsThat's OK then. Good to know you aren't bothered that your taxes are siphoned off.
Good to know you’re not bothered either when labour people are doing the same thing.That's OK then. Good to know you aren't bothered that your taxes are siphoned off.
Why are you concerned?It looks to me as if Sadler is named as a defendant and his bail set at 1million HKD, much more than La Rocca’s. So it seems to me that his involvement is much more than just a regulatory necessity. If the document in the op is genuine, then this looks pretty serious.
That said, innocent until proven guilty and insider trading in the U.K. is very difficult to prove. If the law is the same in HK then the SFC will have an uphill task. If securities/investors in the USA are involved then that’s a whole new ball game.
I’m actually quite concerned.
I was just getting used to being part of a relatively normal football club again.Why are you concerned?
We can't do fcuk all about it and have to move on whatever happens to the owner.
Remember, that's what happened last time
Rest assured if there’s a conviction this time they’ll be enforcing the fit and proper rules with enthusiasm.Well at least it won’t bother the EFL
I used to know the ODT inside out thenNow where have I heard that before.
Oh yes the little Latvian fella.
Open up a can of worms if they do. They are treating man city with kid gloves regarding transfers. Power seems to be changing and authorities weakened.Rest assured if there’s a conviction this time they’ll be enforcing the fit and proper rules with enthusiasm.
Could i suggest a read for you?Good job his name’s not Owen or Karl otherwise it would be pelters on here rather than
ho hum.
What always gets me about things like this is do you think people who get caught doing wrongdoing only did it once? That the one time they were caught was the only time they’d ever tried to pull a fast one? We may have our very own billions derivative reality show.
Good suggestion but bad timing. One day I would love to.
Little did you know eh!!I was just getting used to being part of a relatively normal football club again.
The CIO carries the regulatory and compliance burden for the whole fund. I wouldn't look at the relative bail values as an indication or more/less serious charges or levels of suspicion. The higher bail is more a function of Simon Sadler's seniority in the organisation (and he's pretty much the tip of the pyramid!).It looks to me as if Sadler is named as a defendant and his bail set at 1million HKD, much more than La Rocca’s. So it seems to me that his involvement is much more than just a regulatory necessity. If the document in the op is genuine, then this looks pretty serious.
That said, innocent until proven guilty and insider trading in the U.K. is very difficult to prove. If the law is the same in HK then the SFC will have an uphill task. If securities/investors in the USA are involved then that’s a whole new ball game.
I’m actually quite concerned.
The business side of football stinks.I was just getting used to being part of a relatively normal football club again.
I was feeling relatively reassured until you mentioned the SEC.The CIO carries the regulatory and compliance burden for the whole fund. I wouldn't look at the relative bail values as an indication or more/less serious charges or levels of suspicion. The higher bail is more a function of Simon Sadler's seniority in the organisation (and he's pretty much the tip of the pyramid!).
The HK legal system is very similar to the UK, and the manner in which the SFC operates is very similar to London. For context, neither have the same aggressive reputation as Wall St/SEC/DoJ. But HK is a well run market. Insider trading is incredibly common across the world. A fund will take that into account when incorporating. The vast majority of insider trading investigations (worldwide!) result in a fine and extra scrutiny rather than a criminal conviction.
Stand corrected.Just to be clear he is not Head of JP Morgan APAC, he is head of part of the trading team.
Although the point about why would JP Morgan appoint if they knew is valid.
Unless charges came out the blue and they didn’t know.
And right there you define business as usual and why self serving crime perpetuates.The CIO carries the regulatory and compliance burden for the whole fund. I wouldn't look at the relative bail values as an indication or more/less serious charges or levels of suspicion. The higher bail is more a function of Simon Sadler's seniority in the organisation (and he's pretty much the tip of the pyramid!).
The HK legal system is very similar to the UK, and the manner in which the SFC operates is very similar to London. For context, neither have the same aggressive reputation as Wall St/SEC/DoJ. But HK is a well run market. Insider trading is incredibly common across the world. A fund will take that into account when incorporating. The vast majority of insider trading investigations (worldwide!) result in a fine and extra scrutiny rather than a criminal conviction.
Did you really think our owner was squeaky clean?I was just getting used to being part of a relatively normal football club again.
You’re right why bother having laws? Oh wait there are always victims and a cost to insider trading.Can’t imagine this is uncommon (not necessarily actually doing it, but having your business practices called into question) given the nature of the industry. In reality it’s probably almost impossible to not commit insider trading. At the end of the day you invest based on intel.
I think you misunderstood my point.You’re right why bother having laws? Oh wait there are always victims and a cost to insider trading.