Mass Firings at Citadel Right Before Federal Probe

Never miss a post…subscribe!

Last October, Citadel LLC’s Surveyor Capital unit suddenly fired several portfolio managers at once. 

In the preceding five months, half of Surveyor’s portfolio managers had either been fired or resigned. In May, Todd Barker, the head of Surveyor Capital himself, departed after 16 years at the firm.

His timing was good. All hell was about to break loose.

In November, just after the mass firings at Surveyor, Morgan Stanley’s head of block trading suddenly stopped showing up for work. The trader, Pawan Passi, had been put on leave due to a federal investigation of his conduct, Bloomberg later reported.

Passi and Morgan Stanley are under investigation for allowing hedge funds to front run large block trades of stock. A tip-off from Passi could let a hedge fund buy or sell right before a big institution, locking in profits and giving the institution a worse price.

Also ensnared in the probe: Andrew Liebeskind, Surveyor’s top trader. Passi may have fed him tips on big trades to front run.

So Surveyor suddenly fired a large group of traders right before the federal probe came to light in November. Were they either part of the alleged scheme or, worse, fall guys for top executives like Liebeskind?

We will have to wait for more information to surface in the federal investigation before we know for sure. But I find the timing….convenient.

What do you think is behind the sudden Citadel firings? Leave a comment below and let me know.

Have a great weekend everyone!

More on markets:

Citadel Under Federal Investigation

FBI Raids Short Sellers

Melvin Capital Under Federal Investigation

Never miss a post…subscribe!

Photo: Citadel LLC CEO Kenneth Griffin

If you found this post interesting, please share it on Twitter/Facebook/etc. using the buttons at the bottom of the page. This helps more people find the blog! 

Save Money on Stuff I Use:

Amazon Business American Express Card

You already shop on Amazon. Why not save $100?

If you’re approved for this card, you get a $100 Amazon gift card. You also get up to 5% back on Amazon and Whole Foods purchases, 2% on restaurants/gas stations/cell phone bills, and 1% everywhere else.

Best of all: No fee!


This platform lets me diversify my real estate investments so I’m not too exposed to any one market. I’ve invested since 2018 and returns have been great so far.

More on Fundrise in this post.

If you decide to invest in Fundrise, you can use this link to get your management fees waived for 90 days

Misfits Market

My wife and I have gotten organic produce shipped to our house by Misfits for over a year. It’s never once disappointed me.

Every fruit and vegetable is super fresh and packed with flavor.

I thought radishes were cold, tasteless little lumps at salad bars until I tried theirs! They’re peppery, colorful and crunchy!

I wrote a detailed review of Misfits here.

Use this link to sign up and you’ll save $10 on your first order. 


17 thoughts on “Mass Firings at Citadel Right Before Federal Probe”

  1. When I think of Kenneth Griffin the story of Nick Leeson comes to mind. Citadel is dirty along with several other short hedge funds that work together to manipulate the markets. Politicians are paid off. They employ ex sec and ftc officials after they retire. Yes the same officials that spent a career not doing their jobs to police these firms. They manipulate dark pools. They borrow shares they never intend to pay for. They evade taxes by leaving positions open and instead using them as leverage. They make money by helping put good companies out of business. They have our entire markets at great risk of default. They trade ahead of retail orders. Offer PFOF so they can internalize orders and organize them as they see fit. They send only what they like to lit exchanges to make the markets move how THEY want it to move. They are the bottom feeders of our society and their time is up.

    Liked by 1 person

  2. Hello GaryG, hello american authorities – hurry up, improvements overdue, no more excuses!
    – E N F O R C E M E N T –
    into the United States again,
    -international money will leave (most domestic too)
    -US economy DEAD

    closing the missues in DP could be done in an instance; inforced long ago!


  3. Financial market Regulation needs complete strict overhaul. Self-reporting and Self-regulation cannot be allowed for greedy $Billion players moving market prices using loopholes.


    1. I’m so glad you liked it! You get a decent number of bitchy comments so you’re grateful for the good ones! 🙂 what other topics interest you? Always looking for new ideas to write about.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s