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Winifred Jiau Gave Hedgies "Perfect Tips" But She Was "Difficult To Work With"


On Monday, former hedge fund trader, and current government stool pigeon, Noah Freeman, testified about the "absolutely perfect" insider tips that former Silicon Valley technology worker Winifred Jiau would supply him about tech companies. Freeman was formerly employed by Sonar Capital and SAC Capital Advisors. Jiau, who hedge fund traders that have been snared in the government's crackdown on insider trading called "the Poohster," was a consultant at Primary Global Research, the expert network firm that is at the center of many of the cases.

According to Freeman's testimony, Jiau would leak earnings related information to himself and traders Donald Longueuil and Samir Barai, who have pleaded guilty to insider trading charges. Ms. Jiau, who is currently on trial, faces up to 25 years in prison for her role in the scheme.

While Ms. Jiau's information may have been golden, her people skills were apparently lacking. Freeman testified that “despite her information being very, very accurate, she was very difficult to work with." According to the trader and Harvard graduate, she could be rude, was hard to contact, and often canceled meetings at the last minute. Much of Freeman's testimony yesterday focused on her persnickety behavior. Jiau was paid around $120,000 a year in cash for her stock tips from the conspirators, and she also received gifts from the traders.

Mr. Freeman gave her 3 iPhones and also gave her a gift certificate to a clothing boutique, "that we canceled at her request and replaced with a $300 gift certificate to the Cheesecake Factory." Ms. Jiau was also very fond of lobsters, and peculiarly, she liked to serve them on holidays. In November 2007, she asked Mr. Freeman to send her 12 lobsters, which she was going to serve on Thanksgiving. He complied.

Prosecutors showed Freeman a comical email chain between him and his secretary relating to "Winnie's" lobster request. In the subject line of his email to his secretary, Freeman wrote "Can you please send lobsters to Winnie?" He added, "I know you hate her but we have to do this" in the body of the message.

“Sure thing,” the secretary, Annie Gallin, replied. “I hope she gets sick from the lobsters.”

“Me too (but not dying, just suffering),” Mr. Freeman responded.

In a follow up e-mail, Gallin writes “Typical Winnie to leave 12 lobsters to die at FedEx. She has no heart.”

The following month, Ms. Jiau wanted lobsters for Christmas, a request which was once again obliged by Freeman.


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