Justice Served Swift
Board: Macro Economics
Market Update Blog - ternionmarkettalk.wordpress.com
I have always been open with the board and have not hidden who I am in everyday life.
Last Friday my ex-partner and mentor was sentenced to 10 years for federal securities fraud. Fraud that I reported to authorities. When asked by investigators why I didn't approach him before making the report I simply stated that there was no explanation for what I found. You don't put in place what I found if you are not stealing client funds.
When everyone plays their role, upholds fiduciary responsibilities, reports possible criminal activity (not talking about minor paperwork infractions that can be corrected and found at any investment management shop), investigators diligently dig, and prosecutors use all the tools available to freeze assets, revoke licenses, and prosecute, then action is swift. In less than a calendar year after my report, the felon was incarcerated!
To the satisfaction of the victims, the judge remanded the defendant immediately and those present watched as U.S. Marshals cuffed and led him away in shame. Yes, the aftermath is still being dealt with. But justice was served, and in retrospect, swiftly!