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{{Short description|Convicted white-collar criminal}} |
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'''Robert M. Freeman''' (born ~1943){{Citation needed|reason=Surely an article with authority or notability has the exact birthdate|date=May 2023}} is an American stock broker and convicted felon who was a [[Goldman Sachs|Goldman, Sachs & Co.]] partner. Freeman admitted to [[insider trading|trading on inside information]] and pled guilty to [[Mail and wire fraud|mail fraud]] in 1989.<ref>{{cite news |last1=Stephen |first1=Labaton |title=Ex-Goldman Trader Enters a Guilty Plea |url=https://www.nytimes.com/1989/09/06/business/ex-goldman-trader-enters-a-guilty-plea.html |newspaper=The New York Times |date=6 September 1989}}</ref> |
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| ⚫ | The head of arbitrage at [[Goldman Sachs & Co]]., he was identified as a possible target in an insider trading scandal in November 1986,<ref name=ordeal>{{cite journal|last=Stolley|first=Richard B.|title=THE ORDEAL OF BOB FREEMAN|journal=Fortune|date=May 25, 1987|url=https://money.cnn.com/magazines/fortune/fortune_archive/1987/05/25/69058/|accessdate=14 February 2014|url-status=dead|archiveurl=https://web.archive.org/web/20140222131751/http://money.cnn.com/magazines/fortune/fortune_archive/1987/05/25/69058/|archivedate=22 February 2014}}</ref> and arrested on February 12, 1987.<ref name=witch>{{cite news|last=COHAN|first=WILLIAM D.|title=A Wall Street Witch Hunt|url=http://opinionator.blogs.nytimes.com/2010/03/04/a-wall-street-witch-hunt/|accessdate=14 February 2014|newspaper=New York Times|date=March 4, 2010}}</ref> The case was prosecuted by [[Rudolph Giuliani]], then [[United States Attorney]] for the Southern District. According to the prosecutor, the case involved insider-trading information bought by [[Ivan Boesky]] from [[Martin A. Siegel]], of [[Kidder, Peabody]], who in turn got his information from Freeman.<ref name=thomas>{{cite journal|last=Thomas Jr.|first=Landon|title=Cold Call|journal=New York Magazine|date=February 18, 2002|url=http://nymag.com/nymetro/news/bizfinance/columns/businessclass/5693/|accessdate=14 February 2014}}</ref> Freeman eventually pleaded guilty to one count of mail fraud, served four months in [[Federal Prison Camp, Pensacola]] at [[Saufley Field]], Florida.<ref name=COHAN>{{cite news|last=COHAN|first=WILLIAM D.|title=Why Is Enough Never Enough?|url=http://opinionator.blogs.nytimes.com/2011/04/27/why-is-enough-never-enough/?_php=true&_type=blogs&_r=0|accessdate=14 February 2014|newspaper=New York Times|date=April 27, 2011}}</ref> On June 7, 1993, he agreed with the [[U.S. Securities and Exchange Commission|SEC]] to a three-year suspension from the securities industry and to surrender $1.1 million, in connection with the 1986 leveraged buyout of [[Beatrice Foods|Beatrice Companies Inc.]] by [[Kohlberg Kravis Roberts]].<ref name=suspension>{{cite news|last=Associated Press|title=Freeman Agrees to $1.1-Million Fine, Suspension in Beatrice Deal|url=http://articles.latimes.com/keyword/robert-m-freeman|archive-url=https://web.archive.org/web/20140304053528/http://articles.latimes.com/keyword/robert-m-freeman|url-status=dead|archive-date=March 4, 2014|accessdate=14 February 2014|newspaper=Los Angeles Times|date=June 8, 1993}}</ref> |
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| ⚫ | In 2011, ''[[New York Times]]'' blogger [[William D. Cohan]] wrote that Freeman was an innocent victim of a prosecutorial "witch hunt," whose mail fraud conviction was unconnected to any insider trading.<ref name=COHAN/> In reply, Seeking Alpha author Jonathan Bernstein described Freeman as a "guilty bystander" in the search for evidence against [[Ivan Boesky]] and [[Michael Milken]]. According to Bernstein, Freeman's mail fraud conviction "was actually about insider trading".<ref name=Bernstein>{{cite |
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| ⚫ | In 2011, ''[[New York Times]]'' blogger [[William D. Cohan]] wrote that Freeman was an innocent victim of a prosecutorial "witch hunt," whose mail fraud conviction was unconnected to any insider trading.<ref name=COHAN/> In reply, Seeking Alpha author Jonathan Bernstein described Freeman as a "guilty bystander" in the search for evidence against [[Ivan Boesky]] and [[Michael Milken]]. According to Bernstein, Freeman's mail fraud conviction "was actually about insider trading".<ref name=Bernstein>{{cite news|last=Bernstein|first=Jonathan|title=NYT Blogger William Cohan Hearts Poor, Abused Goldman Sachs|url=http://seekingalpha.com/article/192337-nyt-blogger-william-cohan-hearts-poor-abused-goldman-sachs|work=March 7, 2010|date=7 March 2010 |publisher=Seeking Alpha|accessdate=14 February 2014}}</ref> |
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==References== |
==References== |
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;Notes |
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{{Reflist}} |
{{Reflist}} |
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{{DEFAULTSORT:Freeman, Robert M}} |
{{DEFAULTSORT:Freeman, Robert M}} |
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[[Category:1940s births]] |
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[[Category:Living people]] |
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[[Category:American financiers]] |
[[Category:American financiers]] |
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[[Category:20th-century American Jews]] |
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[[Category:Criminals from New York (state)]] |
[[Category:Criminals from New York (state)]] |
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[[Category:20th-century American businesspeople]] |
[[Category:20th-century American businesspeople]] |
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[[Category:People convicted of insider trading]] |
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[[Category:American fraudsters]] |
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Latest revision as of 14:31, 9 September 2024
Robert M. Freeman (born ~1943)[citation needed] is an American stock broker and convicted felon who was a Goldman, Sachs & Co. partner. Freeman admitted to trading on inside information and pled guilty to mail fraud in 1989.[1]
The head of arbitrage at Goldman Sachs & Co., he was identified as a possible target in an insider trading scandal in November 1986,[2] and arrested on February 12, 1987.[3] The case was prosecuted by Rudolph Giuliani, then United States Attorney for the Southern District. According to the prosecutor, the case involved insider-trading information bought by Ivan Boesky from Martin A. Siegel, of Kidder, Peabody, who in turn got his information from Freeman.[4] Freeman eventually pleaded guilty to one count of mail fraud, served four months in Federal Prison Camp, Pensacola at Saufley Field, Florida.[5] On June 7, 1993, he agreed with the SEC to a three-year suspension from the securities industry and to surrender $1.1 million, in connection with the 1986 leveraged buyout of Beatrice Companies Inc. by Kohlberg Kravis Roberts.[6]
In 2011, New York Times blogger William D. Cohan wrote that Freeman was an innocent victim of a prosecutorial "witch hunt," whose mail fraud conviction was unconnected to any insider trading.[5] In reply, Seeking Alpha author Jonathan Bernstein described Freeman as a "guilty bystander" in the search for evidence against Ivan Boesky and Michael Milken. According to Bernstein, Freeman's mail fraud conviction "was actually about insider trading".[7]
References
[edit]- ^ Stephen, Labaton (6 September 1989). "Ex-Goldman Trader Enters a Guilty Plea". The New York Times.
- ^ Stolley, Richard B. (May 25, 1987). "THE ORDEAL OF BOB FREEMAN". Fortune. Archived from the original on 22 February 2014. Retrieved 14 February 2014.
- ^ COHAN, WILLIAM D. (March 4, 2010). "A Wall Street Witch Hunt". New York Times. Retrieved 14 February 2014.
- ^ Thomas Jr., Landon (February 18, 2002). "Cold Call". New York Magazine. Retrieved 14 February 2014.
- ^ a b COHAN, WILLIAM D. (April 27, 2011). "Why Is Enough Never Enough?". New York Times. Retrieved 14 February 2014.
- ^ Associated Press (June 8, 1993). "Freeman Agrees to $1.1-Million Fine, Suspension in Beatrice Deal". Los Angeles Times. Archived from the original on March 4, 2014. Retrieved 14 February 2014.
- ^ Bernstein, Jonathan (7 March 2010). "NYT Blogger William Cohan Hearts Poor, Abused Goldman Sachs". March 7, 2010. Seeking Alpha. Retrieved 14 February 2014.
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