Tuesday, 29 July 2014
Last updated 1 hour ago
Apr 13 2010 | 9:29am ET
It’s not a sin to be loud at a pizza parlor, but it may be an extremely bad idea.
A Reuters reporter, Aaron Pressman, writes on his blog that he overhead a Boston hedge fund manager tell a priest that he traded on some hot tips he received from a “Danielle.” Did the hedge fund manager—who Pressman speculates could be S2 Capital co-founder Steven Fortuna, who lives outside Boston—mean Danielle Chiesi, Galleon Group founder Raj Rajaratnam’s co-defendant in the insider-trading case?
The exchange between the hedgie and the priest, who were joined by an unidentified female companion, took place last Tuesday at Not Your Average Joe’s in Needham, Mass. Pressman reports that the hedge fund manager “spoke loudly and passionately about his predicament.”
“The manager told the priest he had received information about some hot stocks from ‘Danielle’ and traded on it,” Pressman wrote. “But he got caught because federal authorities were taping the phone calls.”
Fortuna pleaded guilty last year to fraud charges and is cooperating with prosecutors. Among their allegations against him? That he and Chiesi shared insider tips.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…