Crooks Show How Not to Cover Tracks

It's bad enough two hedge fund managers have been charged with insider trading, but they're also being ridiculed for incompetence in trying to cover up their alleged misdeeds: “The evidence laid out in the complaint is largely the defendants’ own words," an FBI official tells the New York Times. “For all their presumed sophistication, they lacked a mobster’s better-honed instincts for conversational discretion." To which the Daily Intel blog responds: "Just to be clear, you're admonishing them for not being better criminals?"

One is on record telling a crony-turned-informant via text to head into the office and "shred as much as u can." The other used pliers to destroy his hard drive, disposed of it on a late-night walk around New York City, then blabbed all about it to a different crony-turned-informant. Helpful advice from the Wall Street Journal's Law Blog: "Memo to potential evidence-destroyers: If you find yourself suddenly needing to shred a bunch of documents or throw a hard-drive in a trash compactor, don’t later tell anyone about your plans or what you’ve done. Ever. Unless you’re standing shoulder-to-shoulder with the person and they’re completely naked." Click for more.
(More insider trading stories.)