The Hunt for Steve Cohen

Barai, Freeman, and Longueuil—who jokingly called themselves the Hindu, the Jew, and the Catholic—had been gathering, swapping, and trading on inside information since at least 2006, when they were all at other firms. They called their exchanges “data dumps” or “data smackdowns,” and Barai later told the F.B.I. that they’d mark them on their calendars as a “threesome” or as “don, sam, noah—sex.” They continued once Freeman and Longueuil joined SAC, in 2008, Freeman in the Boston office, Longueuil in New York. The trio developed a series of valuable sources who had contacts inside several tech companies. One, Freeman later told the F.B.I., was a consultant named Doug Munro, who ran a research firm called Worldwide Market Research and, according to both Freeman and Barai, had inside information on Cisco. Munro, they said, had an e-mail account called, and he’d send Barai an e-mail saying “lucy is wet” when he was supposed to check the account for new information. (Munro has not been charged.)

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