Scoop by Todd Gillespie & me: Citigroup hired an outside law firm to investigate a senior executive, wealth mgmt head Andy Sieg, after multiple high-level people in his division complained about his behavior. The probe is over but the bank won’t disclose its results www.bloomberg.com/news/article...

Is it finally the beginning of the end for Sanjeev Gupta's steel operations in the UK? The British government is ready to step in and oversee an imminent insolvency of a crucial part of his Liberty Steel business if necessary, London’s High Court heard on Wednesday on.ft.com/3UA2WoX

Collapse of FX broker Argentex - which lacked treasury function, confusion at highest levels over reliance on high-risk 'zero-zero' trades - has tied up one of Nigel Farage's biggest patrons. www.bloomberg.com/news/articles/2025-08-20/fx-brokerage-implosion-ties-up-millions-owed-to-farage-backer

Takushi Sawada, fired by Nomura after regulators found he 'spoofed' the market for Japanese govt bonds, is blogging 'toilet graffiti' to defend himself. Story via @bloomberg.com. www.bloomberg.com/news/articles/2025-07-01/fired-nomura-trader-in-japan-turns-to-anonymous-blog-to-defend-himself

Blue Diamond, $2.2b Swiss hedge fund that bets on volatility, had its worst-ever month in April amid market rout triggered by Trump tariff plans. Story via @bloomberg.com. www.bloomberg.com/news/articles/2025-05-20/blue-diamond-fund-had-worst-ever-month-in-april-amid-tariff-rout

Argentex, the UK FX brokerage set up to help customers manage volatile currency swings, should have taken some of its own advice… www.bloomberg.com/news/articles/2025-04-25/fx-broker-argentex-nearly-felled-after-zero-zero-margin-dollar-trades

Blue Diamond, $2.5b Swiss hedge fund that seeks profit from volatility, lost almost fifth of its value during market rout triggered by US tariff plan. Story w/Nishant Kumar via @bloomberg.com. www.bloomberg.com/news/articles/2025-04-08/swiss-hedge-fund-blue-diamond-falls-17-as-volatility-bets-sour

CoreWeave, the cloud computing group seeking to launch a blockbuster $32bn IPO, violated several key terms of a $7.6bn loan last year, triggering a series of so-called technical defaults. Full details only in the FT, w/ @tabbykinder.bsky.social and @antoinegara.bsky.social on.ft.com/4c4F44x

A group of Wall Street firms gathered in Istanbul on Weds for meeting with top Turkish economist, prepared for presentation about steady lira, stable rates etc. Then they glanced at their phones. www.bloomberg.com/news/articles/2025-03-24/wall-street-s-embrace-of-turkey-unraveled-in-just-30-minutes

More ugliness in the invoice factoring market: Artis Finance, a recently collapsed trade finance firm majority-owned by TDR Capital executives, has told its lenders that key documents it sent them “misrepresented” the health of its portfolio. on.ft.com/3DukWvN

Steven Mnuchin and SoftBank's Vision Fund are weighing a deal to salvage Cybereason, a onetime Silicon Valley unicorn that has lost most of its value amid boardroom turmoil. Via @bloomberg.com www.bloomberg.com/news/articles/2025-02-27/softbank-mnuchin-weigh-deal-to-salvage-800-million-cyber-firm

Hyped fintech Stenn collapsed after lender HSBC unearthed $200m+ of 🤔 payments from a web of companies in places such as Serbia, whose names often seemed to ape those of big businesses. Lots of 🤯 detail here, including $$$ received from the company of a villager in rural China on.ft.com/3CHRe6g

B. Riley, the troubled investment firm, is in talks to replace Nomura as its main lender with Oaktree. Story via @bloomberg.com www.bloomberg.com/news/articles/2025-02-06/oaktree-in-talks-with-b-riley-to-replace-nomura-as-main-lender

Brevan Howard's main hedge fund lost 3% during 'tariff purgatory' in Jan., eroding 2024 gains and worst start to a year since Alan Howard founded it 20+ yrs ago. Latest via @bloomberg.com. www.bloomberg.com/news/articles/2025-02-05/brevan-howard-erases-most-of-2024-gains-as-currency-bets-sour

I spoke to vape shop owners in Louisiana, manufacturers in Texas and the world's biggest tobacco firms to report on a story which involves legal battles, regular raids and products seized at borders. Today's @bloomberg.com Big Take: www.bloomberg.com/news/feature...

I've spent the last few months digging into abuses at World Bank-financed private hospitals from Uganda to the Philippines. Working with colleagues we found widespread cases of patient detention, denial of emergency care and corpse retention. Free link here: www.bloomberg.com/news/feature...

B. Riley, troubled investment bank, files long-overdue 10Q filing. Reveals SEC is probing loans to founder Bryant Riley and dealings with bankrupt retail co. Franchise Group. Via @bloomberg.com www.bloomberg.com/news/articles/2025-01-14/b-riley-discloses-more-sec-subpoenas-to-firm-and-bryant-riley

Jefferies ousted team of advisers in Miami, alleging improper cash transfers, illicit communications. Another was fired for demanding payment from colleagues to stay quiet. www.bloomberg.com/news/articles/2024-12-19/jefferies-ousts-team-of-miami-wealth-advisers-over-improper-cash-transfers

For years, I’ve written about the exploits of Lars Windhorst, a racy financier known for his extravagant lifestyle and history of legal troubles. Given all our stories exposing his murky dealings, you can imagine my surprise when he agreed to be interviewed to be on camera! youtu.be/8g9o7ISII6M?...

Big news from my old financial crime beat: A British trader has been sentenced (while wearing a xmas elf hat) to 12 years in Danish prison for orchestrating a billion-dollar tax scam www.bloomberg.com/news/article... Video investigation w/ @donalgriffin.bsky.social : www.youtube.com/watch?v=JHfL...

HSBC mulling cost cuts of ~$3bn as bank restructures its global operations. Latest here w/ @harrynwilson.bsky.social via @bloomberg.com on the reorganization of Europe’s largest financial group. www.bloomberg.com/news/articles/2024-12-11/hsbc-s-ceo-eyes-3-billion-in-potential-savings-from-overhaul

Stenn, a supply-chain finance firm backed by Wall St. giants, collapsed after HSBC found multiple potentially fraudulent transactions. www.bloomberg.com/news/articles/2024-12-10/hsbc-raised-fraud-alarm-that-sparked-collapse-of-fintech-stenn

Nomura dismissed a senior trader named Takushi Sawada after regulators found that he had arranged the manipulative transactions that have tipped the firm into scandal. Latest via @bloomberg.com www.bloomberg.com/news/articles/2024-12-06/nomura-fired-bond-trader-sawada-after-japanese-spoofing-probe

Ireland goes to the polls today, the Bloomberg Dublin bureau takes a look at what is at stake.

Brevan Howard, billionaire Alan Howard's investment firm, has reaped hundreds of millions of dollars from bets linked to the election of Donald Trump as US president. Story via @bloomberg.com www.bloomberg.com/news/articles/2024-11-21/brevan-howard-set-for-best-month-since-2020-after-trump-rally

B. Riley chairman Bryant Riley feels ‘personally sick’ at the demise of retail co FRG, barely 1 year since he helped onetime close friend Brian Kahn take over the business. Via @bloomberg.com www.bloomberg.com/news/articles/2024-11-04/b-riley-chairman-feels-personally-sick-as-frg-goes-bankrupt

At 8:45 am on a spring day in 2021, a Nomura trader began a series of complex transactions that would earn Japan’s largest brokerage next to nothing - but cost it dearly. www.bloomberg.com/news/articles/2024-10-29/nomura-made-10-000-from-manipulating-the-market-but-ends-up-paying-heavy-price

Peter McGarry is one of Europe's top rates traders. A lucrative side gig in Ireland has also made him a lightning rod for the country's anti-immigration movement. Story via @bloomberg.com www.bloomberg.com/news/articles/2024-10-05/ireland-s-anti-migrant-rage-lands-on-a-hedge-fund-trader-s-doorstep

Odin Partners, a financial-recruitment firm well known in the City, has allegedly been gleaning sensitive market intel from traders through the use of fake IDs and cold calls. Cracking deep dive from @WilliamShaw546...

Peter McGarry has become one of Europe's top rates traders through his bets on geopolitical swings. Now he's being swept up in one: the anti-immigration sentiment roiling the continent. Story w/@jenniduggan via...

Ed Eisler wanted to turn his hedge fund into one of the world's biggest but is losing money instead. By his side is deputy Sam Wisnia, notorious for odd behavior and total surveillance of his traders. Story w/@nishantkumar07 @WilliamShaw546 @sridinats...

Alan Howard, billionaire founder of hedge fund Brevan Howard and big Tory Party donor, may soon leave London for Geneva. A departure would come as the Labour govt lays the ground for fresh taxes on the wealthy. Story w/@nishantkumar07 @BenStupples...

B. Riley's mounting problems are shining a light on one of its favorite fundraising strategies: baby bonds — fixed-income securities issued in denominations small enough to appeal to retail punters. Story via @jillrshah @cfb_18...

Bryant Riley founded B. Riley in 1997 and turned it into a finance mini-empire, much of it thanks to a key client and close friend named Brian Kahn. Now that relationship threatens to unravel what he's built. Story w/@davidvoreacos @_ToddGillespie ...

Amedeo Ferri-Ricchi, a controversial top salesman of FX products in Europe, is leaving brokerage JB Drax Honore for a similar role at rival Marex Group. Story w/@WilliamShaw546...

B. Riley, the boutique investment bank that’s been whipsawed by US probe into a key client, a string of losses, a plunging stock price and an army of short sellers, has a new headache: a struggling Texas home-furnishings chain. Story via @business...

Latest twist in saga of boutique investment bank B. Riley and a 2023 take-private deal involving Franchise Group, one of its biggest clients. Shareholders in the company claim they were shortchanged....

The London arm of BCS, one of Russia's biggest brokerages, has been taken over by an interesting player: Gerald Banks, aka Guerman Aliev, who spent much of his career helping to manage the empire of sanctioned oligarch Vladimir Potanin. Story w/@Rudnit...

The FCA has imposed restrictions on a UK payments firm known as AstroPay, effectively suspending it from operating. It's owned by the same Uruguayan fintech investors behind Latin American payments giant @dLocalPayments. Story w/@CHughesMorgan...

So-called SRT trades have been heralded by Wall Street and approved by regulators as an acceptable way of shifting risk out of the banking system. But plenty of the trades are underpinned by loans from...other banks. Latest w/@estebanduarte4 @ArroyoNieto...

Eisler Capital, the $4 billion multi-strategy hedge fund, has pulled back from wagering on emerging markets interest rates after traders lost money and disagreed on trading strategies with a top deputy of founder Edward Eisler. Story w/@WilliamShaw546...

Nomura and Mizuho are facing more than $100m of potential losses after an investment fund called All Blue Capital failed on a batch of stock trades. Two All Blue units have since gone into liquidation. Story w/Roscommon's finest @ManySundays...

A pair of SocGen traders in HK left after the bank discovered a batch of options bets that had gone unseen by risk controls. If the trades had gone bad, the bank could have lost hundreds of millions of dollars. Latest w/@AmberChoudhury @a_rajbhandari...

Betting on the remains of FTX is lucrative — and complicated. Great story on the murky profits/legal battles playing out in massive crypto bankruptcy via @ManySundays and @emilyjnicolle...

Brevan Howard, the hedge fund co-founded by billionaire Alan Howard, is cutting about two dozen traders, or about 10% of the total employed, as it struggles with poor performance. Story w/@nishantkumar07 @tetley_liza...

Millennium, one of the world’s biggest hedge funds, made tens of millions of dollars when Egypt allowed its currency to weaken after a successful bet by one of its senior traders. Story w/@SriniSivabalan via @business...

Brevan Howard, the $35b investment firm, had one of its worst months ever at its flagship hedge fund as traders’ bets on U.S. interest rates backfired. Story w/ @nishantkumar07 via @business...

Corestate, a small German lender owned by property developers/investors, helped fuel a giant real-estate bubble. Cracking yarn from @lauralevfinance @JackSidders via @business...

Investment bank B. Riley delayed filing its annual report, citing a review of transactions with key client Brian Kahn that have drawn attacks by short sellers. Shares tumbled. Story via @diana_k16...

Transactive Systems, a UK electronic-money institution that rapidly became one of the biggest players in European payments, is shutting down after regulators pulled one of its licenses. Latest on this colorful company via @business...