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Broker Used Spy Cameras and Private Eyes to Hunt Down a Leaker

Nov. 29, 2019, 12:33 PM

BGC Partners Inc. was concerned that a mole within its ranks was leaking information to a rival.

So it concocted a plan to spy on two of its brokers by placing pinhole cameras in the ceiling above their trading desks. Then, to confirm the identity of the recipient of the secret data -- one of two possible brothers -- it had photos taken by “surveillance agents” of a manager outside a pub.

The lengths that BGC went to curtail the leaks was laid bare this week in a London court, where the world’s second-biggest interdealer broker is suing the U.K....

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