高盛涉嫌强买强卖

    周秀文和戴伟立自己也不是毫无争议。2008年，美满电子支付了1,000万美元罚款，了结美国证券交易委员会（SEC）的一项指控，称该公司提前了在支付给高管的期权中所标注的日期。另外，作为和解方案一部分，曾身为美满电子首席营运官的戴伟立个人还支付了50万美元罚金，并且五年内不得担任任何上市公司的董事或高管。

    同样是这一年，这对夫妻的高盛麻烦开始了。2008年年中，周秀文和戴伟立根据高盛经纪人的建议、买入了另一家科技公司英伟达（Nvidia）的股票，用的是一个保证金账户，抵押品是他们所持的相当数量的美满电子股票。这对夫妻很快就买了大量的英伟达股票。此前不久，高盛的一位分析师刚刚开始推荐这只科技股。但根据这位夫妇提交的诉状，高盛告诉周秀文、戴伟立及其他客户买入英伟达股票的同时，自己却在削减持仓，总计将对这家科技公司的投资减少了60%。

    周秀文和戴伟立购入英伟达股票后不久，该股开始暴跌。美满电子的股价也在下跌。2008年底，美满电子的股价一度跌破5美元。根据诉状，周秀文和戴伟立接到高盛经纪人的电话称，他们必须要卖出900万股美满电子股票来填补保证金账户的亏损，并称股价低于5美元的股票不能作为保证金账户的抵押品。这对夫妇提出为保证金贷款提供其他抵押品，而且，几天后，美满电子的股价反弹到了5美元上方，但他们仍感到出售股票的压力。同时，这对夫妇声称，高盛在迫使他们卖出美满电子的股票时，高盛和高盛经营的一个对冲基金正在买入这只股票。此后，英伟达和美满电子的股价都已较2008年底的低点反弹了一倍以上。这对夫妇声称，由于被迫售股，他们损失了1亿多美元。

    “我们指控高盛在自己试图买入美满电子股票的同时，向客户施压要求他们出售，”格里格雷表示。他说，在金融危机鼎盛时期，为了让自己的资产负债表在监管部门以及投资者眼里显得好看点，高盛不惜寻找一切理由来减少贷款，导致周秀文和戴伟立夫妇遭受无妄之灾。“根据我们掌握的信息，高盛曾下令要求经纪人尽可能地收回保证金贷款。我的客户被迫售股，即便当时并没有理由要求追加保证金。”

    译者：早稻米

    Sutardja and Dia are not without controversy themselves. In 2008, Marvell Technology paid a $10 million fine to settle allegations from the Securities and Exchange Commission that the company backdated the options it paid out to its executives. As part of the settlement, Dai, who was once Marvell's chief operating officer, paid a personal fine of $500,000 and was bared from being a director or officer of a publicly traded company for five years.

    That was the same year the couple's Goldman troubles began. At a Goldman broker's suggestion, Sutardja and Dai bought shares in another technology company Nvidia (NVDA) in mid-2008, using a margin account in which their sizable holding of Marvell shares had been pledged as collateral. The couple quickly amassed a large position in Nvidia's shares. A Goldman analyst had recently begun recommending the technology company. However, according to the couple's suit, at the same time Goldman was telling Sutardja and Dai and other clients to buy Nvidia, Goldman was selling its own stake, slashing the company's investment in the technology firm by 60%.

    Shortly after Sutardja and Dai purchased Nvidia shares, the stock plunged. Marvell's shares were falling as well. In late 2008, Marvell's shares dipped briefly below $5. Sutardja and Dai, according to the suit, got a call from their Goldman broker who said that they would have to sell 9 million Marvell says to cover the losses in their account. The broker, according to the suit, allegedly said stocks trading for under $5 a share could not be used as collateral for a margin account. The couple say they offered to come up with other collateral to back the margin loan, and that Marvell's shares rebounded above $5 within a few days. Nonetheless, they said they felt pressured to sell. What's more, the couple's suit alleges that Goldman and a hedge fund run by Goldman were buying Marvell's shares at the same time the firm was forcing Sutardja and Dai to sell. Both Nvidia and Marvell's shares have since more than doubled from their late 2008 lows. The couple claim they lost more than $100 million because of their force sales.

    "Our claim alleges Goldman was trying to get into Marvell at the same time they were forcing my clients to sell," says Gregory. He says at the height of the financial crisis Goldman was looking for any excuse to reduce its lending in order to make its balance sheet look better to regulators and the firm's own investors. Sutardja and Dai got caught in the crossfire. "Based on the information we have, the order from New York was for the firm's brokers to close as many margin loans as possible. My clients were forced to sell even though the rational for the margin call no longer existed."