• Home
  • About
  • ‘Enforcement 40’ for 2020
  • Webcasts
  • Enforcement Hall of Fame
  • Contact
Securities Docket
Ankura
  • Class Actions
  • Criminal
  • Events
  • Features
  • Global
  • People
  • SEC
Browse: Home / 2010 / February / 09 / Wall Street Firms Hire CIA Experts to Detect Lies

Wall Street Firms Hire CIA Experts to Detect Lies

By Securities Docket on February 9, 2010, 12:05 am

Active CIA agents have been recruited by Wall Street firms to train their managers to detect lies using verbal and behavioral clues.

Business Intelligence Advisors (BIA), a Boston-based investment research firm with apparent links to the U.S. intelligence agency, employed workers with backgrounds in interrogation and interviewing to train hedge fund managers in a technique called “tactical behaviour assessment”.

According to a forthcoming book by US reporter Eamon Javers and confirmed by the CIA, veteran CIA workers helped hedge fund clients to make enormous investment decisions by assessing the veracity of a company’s financial presentation, for example. In one reported instance involving a company called UTStarcom, the BIA specialists correctly flagged problems with an answer by the company about its revenue recognition after finding in the response a “detour statement” intended to avoid commenting on the matter.

Read the Guardian article

Posted in Industry | Tagged Financial Fraud, Hedge Funds, Investigations

« Previous Next »

Subscribe

‘Enforcement 40’ for 2020

Ankura

Our Sponsors

Securities-Docket_260x125_14Sec Ankura 260x125

Join Us On LinkedIn

Join the Securities Litigation and Enforcement Group on LinkedIn

Archives

Copyright © 2023 Securities Docket.

  • Home
  • About
  • ‘Enforcement 40’ for 2020
  • Webcasts
  • Enforcement Hall of Fame
  • Contact
  • Criminal
  • Class Actions
  • Features
  • Global
  • People
  • SEC
  • Events