24 March 2026
The Presumption of Innocence - Episode 81
Legal Listening: The Fox Rothschild LLP Podcast
About
Episode 81
Tipper X Unmasked: Wall Street's Most Unlikely Informant
What makes a promising young Wall Street analyst with an Ivy League business degree stuff $15,000 cash into his shirt, walk through airport security and hand-deliver a payoff to his insider trading source?
Ask Tom Hardin.
In this episode, host Matt Adams sits down with Tom, also known as Tipper X, whose cooperation helped the FBI build more than 20 of the 80+ cases in Operation Perfect Hedge, the largest insider trading investigation in a generation.
They dig into Tom’s recently published memoir, Wired on Wall Street: The Rise and Fall of Tipper X, One of the FBI's Most Prolific Informants.
Matt and Tom explore this atypical Wall Street tale: A decision to cheat, driven by a need to belong and enabled by a lack of compliance culture. A 6:30 a.m. meeting with two FBI agents on the plastic seats of a Manhattan fast-food restaurant. More than 40 covert wire recordings. A felony conviction. And a second chance career as Wall Street’s most unlikely ethics consultant.
This episode is a master class in how good people sometimes lose their way — and find their way back.
The views expressed in this podcast are those of the participants and should not be considered the views of Fox Rothschild LLP or its attorneys. This podcast is for informational purposes only, is not legal advice, and does not create an attorney-client relationship.
Tipper X Unmasked: Wall Street's Most Unlikely Informant
What makes a promising young Wall Street analyst with an Ivy League business degree stuff $15,000 cash into his shirt, walk through airport security and hand-deliver a payoff to his insider trading source?
Ask Tom Hardin.
In this episode, host Matt Adams sits down with Tom, also known as Tipper X, whose cooperation helped the FBI build more than 20 of the 80+ cases in Operation Perfect Hedge, the largest insider trading investigation in a generation.
They dig into Tom’s recently published memoir, Wired on Wall Street: The Rise and Fall of Tipper X, One of the FBI's Most Prolific Informants.
Matt and Tom explore this atypical Wall Street tale: A decision to cheat, driven by a need to belong and enabled by a lack of compliance culture. A 6:30 a.m. meeting with two FBI agents on the plastic seats of a Manhattan fast-food restaurant. More than 40 covert wire recordings. A felony conviction. And a second chance career as Wall Street’s most unlikely ethics consultant.
This episode is a master class in how good people sometimes lose their way — and find their way back.
The views expressed in this podcast are those of the participants and should not be considered the views of Fox Rothschild LLP or its attorneys. This podcast is for informational purposes only, is not legal advice, and does not create an attorney-client relationship.