• Big 4

    Man, This EY Auditor Made Some Bad Choices

    By | March 14, 2017

    Today in consequences of career limiting moves, a former EY auditor settled charges with the SEC that he traded on insider information about a merger of a client that he was staffed on.

    Now, I know you’re thinking, “Wow, that was dumb.” And yes, that was incredibly bad decision on the part of Nima Hedayati, but the details are truly worthy of #smh (which I never condone using except in extreme circumstances):

    nima-Hedayati-EY-auditor-insider-trading

    Out-of-the-money call options? Trading on your fiancee’s account? Tipping your mom? And then, according to the order, mom “sent him $2,000 as a ‘thank you’ gift.” Lots of bad choices here, people.

    It’s been suggested that he wasn’t paying attention during training,  but even so, I think auditors actively ignoring ethics/misusing client information videos know that insider trading on a client is wrong? Is there a plausible excuse here? I’ll wait why you think it over.

    Naturally, EY fired Hedayati when it found out about his little stunt. I like to imagine the person sitting across from him, glaring, until Hedayati coughs and says, “I’ll just get my stuff and go.”

    [Press Release, Order, AT]

    • “It’s been suggested that he wasn’t paying attention during training, but even so, I think
      auditors actively ignoring ethics/misusing client information videos”.

      Apparently the inhouse training videos are quite amusing; perhaps Nima’s attention wondered?

    • I’m amazed he didn’t post it on facebook and instagram to let all his peeps make some cash. Guy sounds like a generous man.

    • Jack

      If you’re going to do something illegal at least make it big…$43,000 isn’t worth it. Dumb for doing it, but dumber for doing it small. BYW how does that small a transgression get caught

      • Big4Veteran

        It’s pretty simple actually. The SEC regularly obtains trading logs prior to and after major announcements by registrants. They then ask the company to identify every person they know on the list.

    • Big4Veteran

      Still not as bad as a couple of Big 4 senior partners fucking up the Oscars with 100 million people watching. They didn’t get fired.

      • Cam

        Really? Not as bad. A mix-up over some envelopes that wasn’t fraudulent vs. actually violating basic ethical standards. Have a newfound appreciation for your intelligence (or lack thereof) when I see you posting on all these GC articles.