The ‘80s were a time of tremendous growth on the floor, creating opportunities for guys like boxer Ray Pace. Ray went from working part-time on movie sets to trading for one of the largest brokerage groups at the Merc, ABS Partners. Little did he know, by 1987, he was standing next to an undercover agent. In the grand scheme of things, Ray was a small fish, so Anjay questions if his role with the controversial ABS is what put him on the Feds' radar. The agents say he committed felonies; Ray says he was just doing business the way he was taught. All this leads Anjay to a new idea: Was Ray just a scapegoat, a way for the FBI to cover up its own failure?

Notes: You can find episode transcripts and more on our website at https://www.entropymedia.art/brokers-bagmen-moles.

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