Wall Street Prostitution Ring Busted: Distinguishing It From Normal Finance Business A Challenge

Imagine the confusion: first of all, who has jurisdiction, the NYPD or the SEC? And how can you tell who's committing a crime?

Or maybe more to the point, who ISNT committing a crime?

We have to admit that, to use one of Wall Street's favorite words, the 'symmetries' are legion: both businesses involve screwing people for exceptional profits while disdaining government intervention. And it sure beats jumping hotel chambermaids. So, hey, S&M, M&A... sounds like a deal. JL

Katya Wachtel reports in Business Insider:

17 people have been indicted on "on charges of running a high-end prostitution ring that catered to Wall Street clients who often spent more than $10,000 in a night," according to Reuters, via Zerohedge.

The illegal ring, which is called High Class NY, earned its overseers more than $7 million over a three year period. High Class operated 24 hours a day from Brooklyn, and catered strictly to "high-end customers coming from the financial markets."

Services cost clients anywhere between $400 to $3,600 an hour, Reuters reported, and clients were even provided with cocaine.

Prostitutes working for High Class NY described themselves as "models."

This is how High Class NY described itself, on the company website:

High Class NY is one of the top companionship services for those who expect the best out of life. We introduce fashion models, pageant winners, exquisite students, graduates, and women of successful careers to gentlemen with exceptional standards as NYC Escorts. Our models are more preferable if you are looking to make your evening date, weekend getaway, or business trip enjoyable. We accommodate refined and successful international clientele.

Our services are discrete and confidential. All dates are individually designed to accommodate the needs of your specific occasion. Please keep in mind that each companion has place in her schedule for only a select number of appointments per month, so your date will be a special one for both of you. Our high standards of beauty, intelligence and charm ensure that you always encounter the quality you expect in a woman when with a High Class NY model.

The company's website even recommends restaurants, which are frequented by Wall Streeters.

The owners were Mikhail Yampolsky and his wife Bronislava, but no names of clients. Yet....