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Thread: Who Says White Collar Crime Doesn't Pay?

  1. #1
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    Who Says White Collar Crime Doesn't Pay?

    could this be the kick in the ass the mets need to finally be competitive again?

    https://www.espn.com/mlb/story/_/id/...e-fund-manager

    Steve Cohen, a billionaire who owns a small percentage of the New York Mets, is negotiating an agreement to increase his investment, a move that could signal that Fred and Jeff Wilpon's longtime control of the franchise will be over within five years.

    Sterling Partners, the company that runs the Mets, and Cohen released a statement on Wednesday, confirming the talks. The announcement said that as part of the agreement "Fred Wilpon will remain in the role of the Control Person and CEO for five years and Jeff Wilpon will remain in his role of Chief Operating Officer for the five-year period as well."

    Bloomberg reported that Cohen is in talks to acquire up to 80% of the team, which would be valued at $2.6 billion.

    Cohen, an investor and hedge fund manager worth an estimated $13 billion, bought a 4% share of the Mets in 2012 for $20 million. At the time, Cohen was also bidding to buy the Los Angeles Dodgers.

    Cohen, 63, a native of Great Neck, New York, is chief executive officer of Point72 Asset Management.

    In 2013, Cohen's former firm, SAC Capital, pleaded guilty to insider trading charges and paid a record $1.8 billion penalty. Cohen was accused of failing to adequately oversee an employee and was not personally fined.

    The Wilpons have been majority owners of the team since 2002, when they bought out Nelson Doubleday for $135 million. Wilson and Doubleday had bought the team from former owner Joan Payson in 1980 for $21 million.

    The Mets have been to the playoffs just three times under the Wilpons, in 2006, 2015 and 2016. They lost to the Kansas City Royals in the 2015 World Series.


    This gives a little back story into Stevie:

    https://www.newyorker.com/magazine/2...steven-a-cohen

    EDIT: HOLY FUCK THIS IS FUCKING HYSTERICAL!!

    That weekend, Cohen retreated to his home in East Hampton and, as the news continued to circulate, had a word with his four youngest daughters. According to an account in New York, he warned that they were going to be hearing unpleasant things about him. “People in the company have done things that are wrong, and they’re going to pay for what they did,” he said. But, he reassured them, “I didn’t do anything wrong.”



    that statement right there is more bullshit than there is in the entire state of texas...

     
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      Sanlmar:
    Last edited by GambleBotsChafedPenis; 12-04-2019 at 09:29 PM.

  2. #2
    Plutonium Sanlmar's Avatar
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    I love this so much. Thank you for bringing fraud back to PFA.

    I have a weakness for stories of the guys who got away. I just do. Poker-wise the greatest was poker processor Danny Tzvetkoff. Druff interviewed his buddy Chad Ellie in what was easily his most important and entertaining show.

    Honorable mention, Micon.

    But I digress. You realize these are the characters that inspired Billions? Preet Bharara and Steve Cohen. The New Yorker article reads like season 1.

    Bharara shoulda been President.

    If Cohen bought the Dodgers they would have 3 World Series rings. He is a man with unlimited personal funds and ego. Not the fraud insurance owners that run the fail team now.

    Cohen spent more on a single sculpture than Guggenheim spent on shortstop.

    That you gravitated toward this story just affirms that you are a made guy in my eyes.

    I could rally this ball back and forth over the net for hours. I love the endless way this weaves through so many aspects of those things we love.
    Last edited by Sanlmar; 12-04-2019 at 10:55 PM.

  3. #3
    Plutonium Sanlmar's Avatar
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    Your reference to Cohen telling his daughters they might hear bad things about him..... that was plugged almost verbatim into a Billions episode.

     
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      GambleBotsChafedPenis: Fucking Amazing Rep

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    Plutonium Sanlmar's Avatar
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    Sorry about the Lakers btw.

    We’ll get it back from the Lakers. Not to worry.

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    my man, san! knew outta everybody you'd enjoy me bringing this up, especially the new Yorker piece...

    it is amazing this guy "got away with murder"...'well he had 7 screens up, his attention probably wasn't on the screen with the Dell email'...gold is probably the most valuable commodity in the world...a good lawyer/doctor is up there...cause this motherfucker is guilty as hell, but his lawyers scared the fucking government into not prosecuting him...best trade he ever made right there...

    now he's got the billionaire's toy of the 2010s/2020s, a professional sports franchise...kinda funny how the mets got fucked by a financial crook (Madoff) and might potentially be saved by one (cohen)...amazing symmetry right there...

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    PFA Emeritus Crowe Diddly's Avatar
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    John Spano so jelly.

  7. #7
    Plutonium Sanlmar's Avatar
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    Quote Originally Posted by GambleBotsChafedPenis View Post
    this motherfucker is guilty as hell, but his lawyers scared the fucking government into not prosecuting him..
    For a ten year period there wasn’t anything important happening that Bharara didn’t have his mitts on. Most important stuff tests the limits of law and morality so there he was.

    I really got into the Bharara story for a while. Check this out: MrTickle is a 20-something Brit working in Russia. He has stated that he follows Bharara and listens to his podcast. That kid must be closely monitored. (I sampled an episode and I didn’t make it. I need to give him another chance).

    What’s more, this Brit, Tickle, is a huge Mets fan. The circle of life.

    Anyway, Bharara was good and the notches on his gun grew. Soon he had a perfect conviction rate. Then he started managing his numbers. Like Orioles Cal Ripken, Bharara’s streak continued but the quality of play was atrocious.

    Preet let Cohen walk cause he didn’t want to suffer a loss. Gamesmanship. It affirms my understanding of justice. Love it.

    Don’t let Sonatine fool you. Billions was great
    Last edited by Sanlmar; 12-05-2019 at 11:22 AM.

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