meta_pixel
Tapesearch Logo
Log in
American Scandal

The FBI vs. the Hedge Fund | A Game of Poker | 1

American Scandal

Audible

Lindsay Graham, Society & Culture, American History Tellers, History, History Daily, Exhibit C, True Crime, Documentary

4.519.6K Ratings

🗓️ 15 March 2022

⏱️ 41 minutes

🧾️ Download transcript

Summary

Steven Cohen wants to escape his small life on Long Island. The destination in sight: Wall Street.

Want to listen to the remaining episodes of The FBI vs. the Hedge Fund? Episodes 2-5 are available exclusively and ad-free on Wondery+. With Wondery+, enjoy exclusive seasons, binge new seasons first, and listen completely ad-free. Start your free trial in the Wondery App, Apple Podcasts, Spotify or visit wondery.app.link/rUic7i1hMNb now.  

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

Click on a timestamp to play from that location

0:00.0

Hey, Prime members, you can listen to American Scandal add-free on Amazon Music, download the app today.

0:20.0

It's the evening of November 8, 2011, and BJ Kang is driving down a suburban street outside Boca Raton, Florida.

0:28.0

Kang is an FBI agent with a short crew cut and a form fitting suit. As he drives through Southeast Florida, he gazes out at the palm trees, swaying in the warm evening breeze.

0:38.0

Tonight, Kang is over a thousand miles from his office in Manhattan, but he's not here on vacation.

0:44.0

Kang and his partner at the FBI are looking for the home of a former Wall Street trader named Matthew Martoma.

0:50.0

A man they believe is guilty of financial crimes.

0:54.0

Soon, Kang reaches a two-story mansion at the end of a cul-de-sac. It's built like some Spanish castle, the kind of place that comes with marble floors and an elevator.

1:04.0

And while Kang's never been inside, he already knows what the interior looks like.

1:08.0

Because for five years, Kang has been investigating Martoma. He knows almost everything there is to know about the former trader.

1:16.0

And what it all comes down to is that Martoma broke one of the most important rules on Wall Street. He engaged in insider trading, crime that could send him to prison.

1:26.0

But tonight, Kang's not here to make an arrest. Because even though Martoma committed a felony, the former trader could play a key role in a much larger investigation.

1:36.0

Kang is hoping that he can get Martoma to flip to rat out his old boss, a man named Stephen Cohen.

1:43.0

Cohen is the biggest hedge fund trader in the United States, and he appears to be gaming the market, running an operation that profits off bribes and illegally acquired information.

1:53.0

And if Kang is successful, if he can pressure Martoma to admit the truth about his old boss, the FBI will be one step closer to bringing down Cohen's empire.

2:03.0

Kang opens the door to his rental car and steps out into the humid evening air. He and his partner approach the mansion's front door, and Kang straightens the lapels of his jacket.

2:17.0

After ringing the doorbell, Kang waits. A minute passes with no answer. So he rings the doorbell again.

2:26.0

It doesn't seem like anyone's home, but they've come too far to turn back now. So Kang and his partner stand on the front steps, waiting.

2:34.0

An hour passes. And Kang starts to feel himself losing patience. But then a car pulls into the driveway, and a man with short-cropped black hair steps out alongside his wife.

2:46.0

Can I help you? Yes, Mr. Martoma. I'm special agent BJ Kang. We're from the FBI. We'd like to speak with you about a former business associate, FBI.

2:57.0

It's not really a good time. Mr. Martoma, I'm afraid I can't wait. We need to speak to you about something sensitive, and we should probably go somewhere private. What's this all about?

3:07.0

We're here because you worked for SAC Capital from 2006 to 2010. That's correct, right?

3:13.0

Yeah, that's right. I was a trader. And you worked for Stephen Cohen in the firm's healthcare division. Yeah, that's right, too. But that was a long time ago. I moved on from Cohen in SAC. So what is this about, really?

...

Please login to see the full transcript.

Disclaimer: The podcast and artwork embedded on this page are from Audible, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Audible and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.

Copyright © Tapesearch 2026.