Jiau, Last Jailed Insider-Trading Suspect, Drops Bail Bid

Apr 1 2011 | 12:50pm ET

The only one of the dozen people charged in the Justice Department's ongoing insider-trading probe still in jail will remain there. Winifred Jiau has withdrawn her bail application after the judge in the case said he'd almost certainly reject it.

Jiau, a former consultant for expert-network Primary Global Research, has been jailed since her arrest in December. Prosecutors say the dual U.S.-Taiwanese citizen is a flight risk, noting that she had $20,000 in cash, luggage packed and her car running at her California home when the Federal Bureau of Investigation arrived to arrest her. She was initially granted $500,000 bail—which she was unable to meet.

But last month, prosecutors presented evidence that Jiau's former lover had hidden some of her assets—including the $20,000 hidden at her home—and that she had discussed fleeing in coded conversations. Her bail was revoked.

And revoked it will stay: U.S. District Judge Jed Rakoff, following a bail hearing earlier this week, said he was "unlikely" to approve any bail terms for a woman he termed "a substantial flight risk."

Jiau is accused of passing confidential information about at least two companies to a pair of hedge fund employees, including former SAC Capital Advisors portfolio manager Noah Freeman, who has pleaded guilty in the case. Jiau pleaded not guilty in February.


In Depth

Why Ponzi Schemes Work: An In-Depth Look At The Allen Stanford Fraud

Dec 21 2014 | 10:30am ET

Texan Allen Stanford first appeared on the radars of financial regulators in 1997...

Lifestyle

Cooper-Hohn Won't Contest Divorce Settlement

Dec 18 2014 | 9:51am ET

The ex-wife of hedge fund billionaire Christopher Hohn will not contest a divorce...

Guest Contributor

Controlling With Confidence: A ‘How-To’ For Hedge Fund Managers

Dec 22 2014 | 11:52am ET

Hedge funds are increasingly turning to third party services to help with operations...

 

Sponsored Content

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

December 2014 Cover

Futures 2014 person of the year

Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.