For decades Bernard Madoff ripped off investors. He cost many retirees everything. Although the United States Department of Justice received conclusive proof that Madoff was cheating investors, they did nothing. They fiddled while old people had their savings burned. It wasn't until Bernie Madoff made a full confession to the FBI that DOJ moved forward.
Let's flip the script: What happens when Wall Street calls the police on the little guys?
We haven't forgotten about Sergey Aleynikov, the former Goldman Sachs computer programmer who was arrested 48 hours after Goldman Sachs called the Department of Justice.
Aleynikov's pound of flesh is not enough for S.D.N.Y. DOJ. They want Aleynikov to have a cell mate:
A former trader with Societe Generale was arrested and charged with stealing the code from the bank's high-frequency trading program, federal prosecutors said. Samarth Agrawal worked with the high-frequency trade group, which uses a multimillion-dollar computer system to perform sophisticated securities trading within milliseconds.
(Hat tip: Business Insider.) Two sets of rules: If you're a Wall Street bank, the Southern District of New York will answer your calls. They will serve as your personal lawyers. They will file criminal charges in cases that are almost always handed through civil lawsuits.
If you're someone whom Wall Street has robbed, don't bother picking up the phone.
The case is USA v. Agrawal, Docket No. 1:10-mj-00779-UA-1 (indictment currently unavailable). Wall Street's patsy in the case is:
|Thomas G. A. Brown |
U.S. Attorney's Office, SDNY (St Andw's)
One St. Andrew's Plaza
New York , NY 10007
Fax: (718) 422-1718