Jiau, Accused Of Passing Tips To Hedge Funds, Pleads Not Guilty

Feb 24 2011 | 10:42am ET

Winifed Jiau, the former expert-network consultant and one of a dozen people charged in the U.S. Justice Department's massive insider-trading investigation, has pleaded not guilty.

Jiau, the seventh person arrested in the case, is charged with conspiracy and securities fraud and faces more than 20 years in prison if convicted. She is accused of passing confidential information about at least two companies to two hedge fund employees. One of those men, Noah Freeman, a former portfolio manager at SAC Capital Advisors, Sonar Capital Management and Brookside Capital, has already pleaded guilty in the case and is cooperating with prosecutors.

Jiau was arrested in late December and has been jailed since then. She may remain there: Jiau failed to post the $250,000 bail set for her at the time of her arrest, and U.S. District Judge Robert Patterson in New York yesterday raised that figure to more than $500,000.

Prosecutors had argued that Jiau, a dual U.S.-Taiwanese citizen, should be held without bail.

Jiau worked for expert-networking firm Primary Global Research, and is one of eight people with ties to that firm to be arrested or charged in the case.


In Depth

Debunking Conventional Investment Wisdom

Feb 8 2017 | 3:22pm ET

Due diligence in the hedge fund world has long involved some combination of the...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Future of Private Equity: New Opportunities, New Challenges

Feb 3 2017 | 6:41pm ET

The private equity industry’s astonishing rebound since the financial crisis has...

 

From the current issue of