Morgan Stanley Banker Was ‘Daddy’ to Hedge Fund He Tipped – Bloomberg

For years, hedge funds knew that one man at Morgan Stanley could make them millions.

A big block of shares would come up for sale, and block-trading head Pawan Passi would tip off the funds. One even told Passi he had put that investor “in the game” (adding a colorful modifier) and that the investor “would be at the kiddie table” if not for him.

“I know who my daddy is,” the investor said in a call, according to federal prosecutors.

Source: Morgan Stanley Banker Was ‘Daddy’ to Hedge Fund He Tipped – Bloomberg