The FBI is investigating possible insider trading at hedge fund SAC Capital, but the most outrageous thing to emerge from the case are allegations of how a perverse SAC manager tried to literally turn a trader into his literal bitch.
Allegations from the trader, Andrew Tong (pictured), were recently unsealed; they may help shed light for the FBI's investigation, since Tong testified to manipulative trading amid a sexual harassment case. Sex allegations from the papers are more sensational than any trading scandal; Tong's most extreme allegations, honed in on by Business Insider, say he was forced by his boss Ping Jiang to perform oral sex (in once case as a condition of being allowed to trade); made to take female hormones and dress in feminine attire; and violated in various other ways:
As part of his "training program, Mr. Jiang set about to systematically bully and control Mr. Tong through obscene sexual ultimatums and physical brutality. By way of example, the following tortious and criminal acts were perpetrated by Mr. Jiang against Mr. Tong at SAC's very own offices: (a) in or about the beginning of February 2006, Mr. Jiang forced Mr. Tong to perform oral sodomy; (b) in or about the beginning of March 2006, Mr. Jiang committed assault and battery, as well as false imprisonment upon Mr. Tong by restraining him with ropes and forcibly introducing certain foreign objects into Mr. Tong's rectum; and (c) in or about mid-March 2006, Mr. Jiang again restrained Mr. Tong with ropes and forcibly urinated into his mouth.
Jiang allegedly thought a "soft feminine touch" made for better traders. Even by the dog eat dog standards of Wall Street, this is a sadistic obsession with power and domination . And a way twisted one at that; the "Swinging Dick" is supposed to be a metaphor in the financial world, not something you actually brandish, in the workplace.
Court papers, via Reuters via Business Insider: