The entertainment can go further than expensive restaurants and bars. According to a complaint filed by former Tradition broker Brett DiLiberto in the Southern District of New York and made available on electronic databases, the firm “regularly paid prostitutes to entertain traders.”

DiLiberto, as part of his job, frequently “visited brothels masquerading as massage parlors,” and was “required as part of his entertaining duties to retain other prostitution services,” according to the complaint. DiLiberto also said he went on a January fishing trip to Costa Rica in 2006 that was an “extended orgy.” On one occasion, DiLiberto said he was recalled from vacation to attend a “customer drinking and drug party.”

“I am just a guy from upstate New York who was offered a lot of dough; what can I do?” Daniel Polidore, one defecting broker told Piluso before departing, according to the affidavit.

—The CDS business & GFI