Founder, CHIPPEWA PARTNERS, Native American Advisors, Inc. A White Earth Chippewa he's helped Natives for decades. Raised conservative, he trained on Wall Street in 1982/83, met game changer William O'Neil in 1984. In a world on a dopamine, hypomanic binge, this is his take on financial chicanery, political crime, Native issues and life well lived. Written from the trading turret at his MT Ghost Ranch or TN farm, Pamelot.
Monday, March 19, 2018
Merrill Lynch. Their BEST employees ever............
Three Merrill Lynch insiders will get more than $83 million from the U.S. Securities and Exchange Commission -- the biggest-ever payouts -- for providing information that helped the agency bring a 2016 case against Bank of America Corp., their attorney said Monday.
Two of the people will split $50 million and a third will get an award of more than $33 million for providing help in the same case, the SEC said in its statement Monday. The agency gave no information on the three tipsters or which company was involved in the case, citing federal law requiring protection of whistle-blowers’ confidentiality.
Jordan Thomas, an attorney with Labaton Sucharow, said he represented the Merrill insiders but declined to name them or say whether they still worked for the Bank of America unit. The three provided information that helped the SEC win a $415 million settlement with the bank in 2016 for engaging in complex transactions to reduce the amount of client funds that had to be set aside in reserve accounts.