'King of Tokyo' dethroned by insider trading probe

“He’s not in Japan, and I haven’t heard when he’s coming back,” Brogan’s Japanese-born wife, Junko, told Reuters. “I think he’s being made a scapegoat by the Japanese government.”

Circle this date on your calander dear, 12th of never.

I got down to half way and realized just how long this artcile was. Surprisingly it gets better towards the end. That's if you manage to read that far.

Its a dirty highly corrupt line of bizness that doesnt do anything productive, just tries to create $$ outta thin air, him & his ilk have become a real global plague

Slimey leach, Japan needs to catch up with the times an stop these crooks.

No need to worry for him and he is surely not worried about Japan's probe, he is probably back to the US and knows he will not be extradited by his country. Those guys always manage to slip through the net.

Too late Japan, as usual, amateur!

GW:

" Its a dirty highly corrupt line of bizness that doesnt do anything productive, just tries to create $$ outta thin air, him & his ilk have become a real global plague "

No. What you describe is "big government". Hedgefonds are fundamentally glorified gambling operations; the make big bets on economic developments, make a profit if they are right, and take a hit if they are wrong.

You might like that or not, but that is fair enough.

Only governments can spend YOUR money without any risk to themselves.

You might like that or not, but that is fair enough.

No, it absolutely isn't fair enough. It's sick while kids are going to bed hungry or dying of easily-treatable diseases.

And times are changing. With the internet and the spread of instant-communications technology people are more aware of the truth behind big business and of the suffering of other human beings.

It's coming, and it's going to make the French and the Russian revolutions look like tea-parties....

If Ed Brogan goes down for insider trading then you might just as well just close up every hedge fund in Japan and every hedge fund around the world that shorts Japanese equities. The real culprit here is Japan's SESC/FSA. Forever they have watched individual stocks drop before the announcement of a secondary offering... for years and years. The FSA did nothing... zilch. It was obvious years ago what was happening... but because Politicians were also profiting and because most of the insider info was coming from DOMESTIC Brokers they turned a blind eye to it. So just a few months ago a Japanese investment company pulled a Bernie Madoff and the FSA was standing there embarassed because they missed it totally even when the word on the street was that smart money would not put a dime with this fund. Now the FSA is fighting back and as usual they focus their energy on the dirty foreigner because, of course, no respectful Japanese company could possibly do something so wrong. The FSA should be on trial....

King of Tokyo? I don't think so. Just another foreigner who let making money go to his head.

Prosecutors only going after the lonely foreigners instead of the local big game who have too many "friends"...

And they managed to screw up even then. Tsch!

Ed Brogan was not know as "The King of Tokyo".... no one called him that. This one guy says it and all of a sudden he's the King. Was Ed wined and dined... yes... definitely yes. BUT.... the same went for any hedge fund manager or fund manager in Tokyo. Not mentioned is all of the money spent on Japanese fund managers in Ginza. Ask any Ginza hostess about the good old days when Yamaichi would take out a client and spend over $10,000 in one night.... almost every night. I laugh at how much is not said. Mizu shoubai.... I don't know why I actually care.... I guess it is the total hypocrisy that gets to me.

Incarcerate the finance maggot.

In more than a decade of trading, Japan Advisory spun off tens of millions of dollars in commissions for brokerages including Goldman Sachs, JP Morgan, Citigroup and Nomura Holdings, associates says.

Obviously he is just a networking white trash mogul, and like his counterpart in the media biz Rupert Murdoch, he amassed a fortune based on lies and deception.

Brogan was the only person with a finance background at a masquerade party with art writers, journalists and a self-described Japanese shaman.

In a video of the party, a shirtless waiter stood at attention, while each guest was asked to say how they would tackle Japan’s crisis. Brogan, wearing a Hawaiian shirt and a gold mask, singled out energy policy...”

Sounds like he is a Freemason type charlatan/impostor, too!

This whole industry is riddled with scum bags, and this is just one of them.

Detached from reality and they have no concept of what real work is or how their "game" affects 1,000's of people.

Would love to so this industry cleaned out.

The source of the insider information, the Daiwa guy, is not named nor punished? A case of one law for gaijin another law for locals, perhaps?

Why hasn't Daiwa's license been revoked? It takes to tango when it comes to insider trading, after all.

So the FSA is investigating him but has not charged him over getting and using inside info to short sell glass shares.

I just rewrote that whole article in 22 words.

Nice addition of abandoned wife and Kabukicho strip clubs - gives it a bit of a weekly magazine slant. Being dined on thousands of dollars in one night... makes him about as influential as a mid level Ministry of Finance official.

The 2007 Hedge Funds are Piranhas quote I believe is a reference to Steel Partners - activist shareholder funds that were seen as destructive/vulture funds looking to liquidate and break up acquired companies for their assets Gordon Gecko style - not a reference to insider trading.

The real story here, which the authors never bothered to mention is of course that Daiwa, Nomura and everyone else are protected by trading laws that make it illegal to receive and use insider information, but not to give it. In most countries, the companies giving this fund insider info would be as in trouble as the absentee trader.

I dunno, this whole thing just looks sloppy.

Crime pays until you are caught.

he is probably back to the US and knows he will not be extradited by his country. Those guys always manage to slip through the net.

@tokyobakayaro Why would be be extradited if he hasn't even been charged with anything?