The NY Times Dealbook reported a really tragic story about how US prosecutors can pick you up, use you, and when they are through, spit you out. Case in point: In a Manhattan courtroom last week, federal prosecutors played for a jury a secretly recorded telephone conversation between two Wall Street traders exchanging stock tips.
Two days later, one of those traders, Ephraim G. Karpel, hanged himself in his Fifth Avenue office, according to a law enforcement official.
Mr. Karpel was never charged with any wrongdoing, and until last week his name had not emerged in connection with the government’s vast investigation of insider trading.
Yet while working for a New York commodities firm, in 2008 the feds made him an offer he couldn’t refuse to cooperate with authorities, and for about a year he taped conversations with fellow traders, according to two people with direct knowledge of the matter who insisted on anonymity to discuss it.
“The government’s investigation changed his life forever and was his unraveling,” Fran Karpel, his wife, said in a telephone interview from her home in Livingston, N.J. “He sank deeper and deeper into a hole and couldn’t see a way out....”
Sad, sad…...
Read more at:
http://dealbook.nytimes.com/2011/06/02/a-trader-an-f-b-i-witness-and-then-a-suicide/
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