Friday, 19 September 2014
Last updated 7 hours ago
Apr 28 2011 | 10:43am ET
Get ready to add one more guilty plea to the 21 already entered in an ongoing federal insider-trading probe—that of former SAC junior portfolio manager Donald Longueuil.
Assistant U.S. Attorney David Leibowitz told U.S. District Judge Jed Rakoff that Longueuil would plead guilty during a hearing Wednesday about separating Longueuil’s case from that of fellow defendant Winifred Jiau, reports Bloomberg.
Jiau and Longueuil were both charged with conspiring to commit securities and wire fraud between 2006 and 2010. Both had pleaded not guilty.
Prosecutors allege that Longueuil received tips from another former SAC manager, Noah Freeman, who allegedly got the information from Jiau, who worked for the expert network Primary Global. Freeman has pleaded guilty and is cooperating with the investigation.
The defendants are among the roughly 36 people charged in what prosecutors describe as a series of insider-trading rings linked to the Galleon Group, whose founder, Raj Rajaratnam, is currently facing trial.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.