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WALL
STREET
COCAINE
SCANDAL
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BY HARRY SWAIN
Judy Payer states that her husband William Kirincich, who co-managed the Sharpe trading desk with her, has been a habitual and significant user of cocaine for five years. She claims that this is common
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knowledge within the Wall Street trading community. Payer did not recognize that he was a cocaine addict until approximately three years ago. At which time, she decided to allow him to continue in his position alongside her at Sharpe, even though his drug abuse was known about by many employees at the company.
In the course of these five years, the Over The Counter trading desk earned more than any operation at Sharpe Capital, coming from a place of earning no capital. Payer and her husband took home close to 1 million dollars a month, but Payer claims that some of that money was lost to her husband's 500 dollar a day cocaine addiction. She says that he has spent over $500,000 on cocaine as of last month.
Payer concedes that her husband and at least one other Sharpe trader used cocaine to solicit deals with the trading desks of other firms, such as Charles Schwab, Merrill Lynch, and Paine Webber, drugs to solicit business from the trading desks of other Wall Street firms. Drug money was not laundered in these transaction, according to Payer, but cocaine itself was used as actual currency through bribery.
Continue... Payer also accuses 
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