Do I have a case?

B

BPtrader

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?
 
LOL

LOL

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.
 
Quote from BPtrader:

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?
More...

Run & hide
 
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 :)

Quote from BPtrader:



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

50% before or after taxes?:p :p :p
 
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?
 
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!!!
 
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