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Former SAC trader says he was told to take female hormones to curb aggressions

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Former SAC trader says he was told to take female hormones to curb aggressions

Old 10-13-07, 01:17 AM
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Former SAC trader says he was told to take female hormones to curb aggressions

I think he went a little too far.

http://www.cnbc.com/id/21224443

Details Emerge in SAC Capital Sex Harassment Case

By Charles Gasparino | 10 Oct 2007 | 02:45 PM ET Font size:

Sexual harassment cases are nothing new on Wall Street, but CNBC has uncovered new details of one of the most salacious cases to hit a big trading house in a long time.

The case involves a sexual harassment lawsuit filed by a Andrew Z. Tong, a former junior trader at SAC Capital, the powerful Greenwich, Conn., hedge fund, against one of SAC’s top producers, a trader named Ping Jiang.

A New York State judge has sealed the case and sent the lawsuit into arbitration, where both sides would battle it out in private. He even cancelled oral arguments that were scheduled for Thursday following an appeal by Tong’s lawyers, who want the case to remain in state court.

The judge said he sealed the details of Tong’s allegations contained in the lawsuit because it is not in the public interest to disclose the salacious nature of the complaints. CNBC has learned the suit includes the following allegations made by Tong against Jiang:

After being hired at SAC, Tong alleges that Jiang came to him and told him he had a trading method in which his traders must not be too aggressive; that traders must be more effeminate and to do so, he directed Tong to begin taking female hormones.

Tong says he then took the female hormones that he bought on the black market.

Tong then alleges he suffered emotional and physical distress. The hormones, he says, caused him to begin wearing women's clothes. He also could not perform sexually with his wife, who wanted to have a baby.

Tong says the sexual harassment included sexual relations between the two men.


Tong's attorney had no comment.

SAC Capital and Jiang vehemently denying the charges, saying in a statement that: “SAC conducted a thorough investigation and found these scurrilous accusations to be false. We will vigorously defend ourselves and are confident that these claims will be swiftly rejected in arbitration.”

Tong was terminated by SAC Capital in April 2006 after working there less than a year. SAC, according to people close to the firm, say he was fired for cause. Tong, according to others, claim he was forced out of the firm.
Old 10-13-07, 05:26 AM
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Two Tongs don't make a right.
Old 10-13-07, 11:15 AM
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Here's another story about the poor guy.
Old 10-13-07, 01:38 PM
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He went along with that? I would have demanded that the company provide the hormones, if they wanted me to take them!
Old 10-13-07, 03:34 PM
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The feminization of the US continures.....
Old 10-13-07, 04:29 PM
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Weird.
Old 10-13-07, 05:31 PM
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The hormones caused him to wear women's clothes?!
Old 10-13-07, 05:55 PM
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This could be a killer anime movie. Or series even.
Old 10-13-07, 06:28 PM
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Hmmm... wonder how long until Larry Wachowski applies for manager?
Old 10-13-07, 06:40 PM
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Originally Posted by Mrs. Danger
He went along with that? I would have demanded that the company provide the hormones, if they wanted me to take them!
Just what I was thinking. Nobody made him do it, he took it himself.
Old 10-14-07, 05:43 AM
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From 2003....

Originally Posted by BBC
A former fund manager at a leading City bank is to be tried on fraud charges at the Old Bailey.

Peter Young, aged 40, who sacked from Morgan Grenfell two years ago, was sent for trial by City of London magistrates on charges of conspiracy to defraud and alleged breaches of the Financial Services Act.

Mr Young arrived for the hearing dressed as a woman, wearing a scarlet blouse and matching tight skirt, black stockings and high heel shoes, with a neat bobbed hairstyle and immaculately applied make-up.

The case centres around share dealing that cost the bank's German parent company, Deutsche Bank, about £400m in compensation to investors.

Morgan Grenfell fund manager Stewart Armer and two former stockbrokers from Fiba Nordic Securities, Erik Langaker and Jan Helge Johnsen, face similar charges.

All four appeared in court and were released on conditional bail to reappear on a date yet to be fixed.
A troubled man!

I think he was eventually judged mentally unfit to be tried for the fraud in which he was allegedly involved!

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