Accused Hedge Fund Tipster Jiau's Bail Revoked

Mar 3 2011 | 11:14am ET

Even if Winifed Jiau could come up with a half-million dollars, the accused insider-trading tipster isn't going anywhere.

Jiau, a former consultant for Primary Global Research accused of passing confidential information on to at least two hedge funds, saw her $500,000 bail revoked yesterday after prosecutors offered new evidence that she is a flight risk. According to the authorities, the dual U.S.-Taiwanese citizen, in a conversation with a friend, dropped coded hints in Chinese that she was planning to flee.

The friend was allegedly involved with Jiau's plans to skip bail, and was part of the group that Jiau hoped would help her post bail. In the Jan. 13 conversation, Jiau allegedly told her friend that she had moved some possessions, including possibly cash, to Beijing in October.

Prosecutors also pointed out that Jiau did not disclose that she had $20,000 in cash stowed at her California residence when she was arrested and that she had moved more than $100,000 from a bank account a month earlier.

Jiau has pleaded not guilty to the securities fraud charges against her. She has been jailed since her arrest in December.


In Depth

Israeli Hedge Fund Harnesses Big Data

Jul 28 2014 | 8:10am ET

Apica Green is a multi-million dollar Israeli hedge fund that is based in Tel Aviv...

Lifestyle

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Guest Contributor

Compelling Opportunities In The Alternatives Space

Jul 29 2014 | 9:33am ET

In an environment where many asset classes seem expensive by historical standards...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    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…

Publisher's Note