London Evening Standard piece hints at hedge‑fund fraud, insurance broker incident, and market‑abuse lecture

Page 2 CITY SPY The Evening Standard (London) December 24, 2009 Thursday in-flight food remains in recession. Apparently, those who supply food to executive aircraft are seeing demand soar after a slump, but says one caterer: "No one is eating lobster. A quick turkey box lunch is the order of the day." Of course, that has nothing to do with the industry being desperate to re-brand itself as time-saving and cost-efficient. WHICH insurance broker saw a compliance officer pass out after the office Christmas lunch and have to be taken to hospital? WHO MADE OFF WITH THE MONEY? IT's a year since the Bernie Madoff affair blew up and the hedge fund king was found to have been ripping off his clients. If he was in Britain the old fraudster would still be at liberty as lawyers pored over his case and the prosecution had barely cranked into operation. But the US is different [#x2039] his case is done and dusted, and he's languishing in jail. Even so, by US standards, the Madoff conviction was going some. Rumours persist that he pleaded guilty as quickly as he did and said the absolute minimum because he wasn't the main crook of the piece [#x2039] the main business of his hedge fund was washing money for organised crime. As soon as the balloon went up and he was arrested, he was warned by friends with Italian-American origins that his life, and the lives of his family, would be at risk were he not to "take the rap". OETaking the rap': hedge fund fraud Bernie Madoff UNFORTUNATE name? City Spy’'s eye is drawn to a forthcoming lecture at the Institute of Advanced Legal Stud- ies, School of Advanced Study, University of London. It's in partnership with the Market Abuse Association. What? Do they wear a club tie? Do they refer to each other as fellow market abusers? LOAD-DATE: December 24, 2009 HOUSE_OVERSIGHT_013431