Applejack diner12/23/2023 ![]() ![]() He had been depressed after losing his job, his wife said, and other factors may have contributed.īut according to Ms. Whether the investigation played a role in Mr. The lives of many who have not been accused of any crimes. Transcript of Wiretapped Call Between Ephraim Karpel and Zvi Gofferįederal prosecutors’ increasingly aggressive and public stance in pursuing insider trading has led to headline-grabbing convictions and stepped-up compliance procedures at hedge funds.īut behind the scenes, the government’s hardball investigative tactics - using surveillance, pressuring witnesses and raiding offices - have also spawned a culture of fear on Wall Street and affected. ![]() “He sank deeper andĭeeper into a hole and couldn’t see a way out.” “The government’s investigation changed his life forever and was his unraveling,” Fran Karpel, his wife, said in a telephone interview from her home in Livingston, N.J. Of the matter who insisted on anonymity to discuss it. Yet while working for a New York commodities firm, he had agreed in 2008 to cooperate with federal authorities, and for about a year he taped conversations with fellow traders, according to two people with direct knowledge Karpel was never charged with any wrongdoing, and until last week his name had not emerged in connection with the government’s vast investigation of insider trading. Karpel, hanged himself in his Fifth Avenue office, according to a law enforcement official. Two days later, one of those traders, Ephraim G. In a Manhattan courtroom last week, federal prosecutors played for a jury a secretly recorded telephone conversation between two Wall Street traders exchanging stock tips. Brian Snyder/Reuters Agents in Boston last fall conducting one of three simultaneous raids on large hedge funds. ![]()
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