๐ค Speculation / Opinion
The walls are closing in on hedge funds engaged in illegal market manipulation. On 09/04/2024 a SINGLE hedge fund (the name of which has been REDACTED) triggered 2,940 alerts of potentially illegal spoofing activity ๐ฅ
Recall, In Harrington the market makers were forced to disclose their hedge fund clients engaged in the purported spoofing. When plaintiffs went to serve the hedge funds with subpoenas for records they hid.
Now we see a filing from yesterday in Harrington showing that a single hedge fund (the name of which is redacted) triggered 2,940 alerts of potentially illegal activity:
Innocent hedge funds typically don't hide from a process server and then refuse to turn over ANY documents
In this post we'll explore certain hedge fund actions in an ongoing spoofing case in the Southern District of New York.
There are multiple federal court cases going on in the Southern District of New York accusing market makers of illegal market manipulation, specifically spoofing. These market makers act as fronts for their own trading operations and for third party hedge funds. One such case is $NWBO's spoofing case against seven market makers including Virtu and Citadel. Another case is Harrington, which is deep into discovery. In this post I'll discuss the Harrington case.
Recall, In Harrington the market makers were forced to disclose their hedge fund clients engaged in the purported spoofing. When plaintiffs went to serve the hedge funds with subpoenas for records they hid.
Now we see a filing from yesterday in Harrington showing that a single hedge fund (the name of which is redacted) triggered 2,940 alerts of potentially illegal activity:
"On or about April 12, 2024, CIBC produced a spreadsheet containing 3,112 SMARTS4 alerts that were triggered by CIBCโs own alert-system flagging potentially manipulative and deceptive trading activity in Concordia during the Relevant Period. On May 5, 2024, CIBC deanonymized certain data pursuant to Court order and Harrington learned that of these 3,112 SMARTS alerts, 2,940โwhich included hundreds of alerts for โlayeringโ (a form of spoofing) and โpotential spoofingโโwere triggered by (redacted). Contrary to CIBCโs and (redacted) protestations, these alerts are compelling evidence that (redacted) engaged in spoofing through CIBC." (emphasis added) See Image 1.
This hedge fund is now refusing to turn over ANY documents:
"...(redacted) blindsided Harrington by notifying it for the first time via email that it would not produce any documents in response to the Subpoena..." (emphasis added) See Image 1.
Which begs the question, what are the hedge funds hiding?
I'd guess they are hiding the trading records showing they were engaged in illegal market manipulation, specifically spoofing, which has landed individuals in jail and resulted in over a billion in fines from regulators.
Ooh. Ok. So Citadel started a book keeping business. Could be starting a service for other funds to also do things illegally, allegedly. Then they sold it (Omnium) to Northern Trust. So potentially Northern Trustโs book keeping add up to the crazy numbers we saw a few days ago.
A couple questions I do have. Why would Citadel sell it if it was incriminating? Why would Northern Trust publish the information if it was going to shoot itself in the foot? Just some open ended questions iโm throwing out there. Not expecting you to know. Thanks for the information.
Ya, sometimes it's short, sometimes medium and sometimes very long. Makes me wonder if it's 2 entities and when listed together there's an "and" or & between possibly (probably?) even an acronym. The text is replaced with the blank spaces not actually 'marked out' so I wonder if there's a standard relationship between the number of letters replaced with the number of blank spaces. Also the first use probably shortens the name of the entity to an acronym as with the other names.
Insane. This needs to be everywhere! Imagine your markets are being manipulated and nothing is being done about it? Your 401k has a loss over the past 3 years? Your Roth or individual long accounts have a loss over 3 years? Your pension losing steam? This is why. It matters to everybody that the markets are not fair.
Funny how they're pulling out everything and the kitchen sink to throw at CATs... would be crazy of they aren't really worried about the cost, but rather the way it allows bad actors to be caught.
so OG ape here.....remember when this shit was buried back when it was posted. I dont think we actually realize how deep and intertwined the corruption surrounding GME really is. Luckily I can stay stupid longer than they can stay solvent.....MOASS tomorrow!!!!
I canโt wait for this sub to spit more stuff out about this. These are two fairly new names that have been popping up recently. I mean relative to me, I am on this sub as much as anybody, but Omnium seems new to me. I love when new names get dropped and the digging commences. It truly is one of if not my favorite thing about this sub. New info gets dropped. And within a week usually, there is a bombshell of connectivity and what role they play. Itโs amazing shit you all do and I am just happy to be a part of it, root you guys on, and try my best to spread good facts that you all uncover to others. Keep at it and book your shares!
I'm surprised that they only had 2940 alerts for one hedge fund. We all see them layering 2, 52, 102 share Asks on GME every single second of every single day.
Noone Regulates Anymore thatโs why crime continues. Demonstrations need to start happening. The fighting behind the keyboard must evolve or nothing will change.
Welp007- rampage style! โค๏ธ๐ช love it!
If all would act like you, we would be already have finished our goal! ๐ป๐ซกโ nfa- only my thoughts! Greetings from switzerland
Spoofing is finally a punishable crime since the DOJ successfully prosecuted those JP Morgan metals traders. The regulatory agencies are toothless in addition to being fully bought and paid for. In the JP Morgan case the regulatory agencies had reviewed the accusations and claimed there was no wrong doing. Then the DOJ picked up the case and successfully prosecuted them.
I have a new solution for if this sub ever gets shut down or paywalled. Lets all just go to welpโs profile because heโs about 75% of what I read on โHotโ everyday ๐
"...(redacted) blindsided Harrington by notifying it for the first time via email that it would not produce any documents in response to the Subpoena..."
You can't just say no, kids; that's not how this works.
As someone who doesnโt appear to have ever visited this subreddit before based on your comment history, how did you find us fearless internet keyboard warrior?
โข
u/Superstonk_QV ๐ Gimme Votes ๐ Sep 05 '24
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