Wednesday, 28 January 2015
Last updated 3 hours ago
Jan 5 2011 | 9:43am ET
Three of the seven people charged in Justice Department’s wide-ranging insider-trading probe had their bail terms upheld in their first appearances in Manhattan federal court.
U.S. Magistrate Judge James Francis continued all three defendants’ bond conditions. The three men, James Fleishman, Mark Longoria and Walter Shimoon, were arrested last month and released by judges in California and Texas. The conspiracy and fraud charges against the three were transferred to Manhattan federal court.
Fleishman was a salesman at expert network firm Primary Global Research, and the other two men were consultants for the firm. All seven of those arrested in the case—one has already pleaded guilty—were associated with Primary Global.
Fleishman, Longoria and Shimoon have yet to enter pleas. Each faces up to 20 years in prison if convicted.
Fleishman is free on $700,000 bond, Shimoon on $150,000 and Longoria on $50,000.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…