Friday, 27 March 2015
Last updated 2 hours ago
May 13 2011 | 12:51pm ET
Winifred Jiau cannot catch a break. The former Primary Global Research consultant and accused font of confidential information is the only one of the dozen people charged in the Justice Department's ongoing insider-trading investigation to remain jailed—as a flight risk—and earlier this week lost a bid to have the case against her dismissed.
Now, a federal judge has ruled that Jiau will have to defend herself against herself, or, at least, taped conversations of herself, just a day after wiretaps helped convict Galleon Group founder Raj Rajaratnam.
U.S. District Judge Jed Rakoff in New York yesterday deemed tapes of conversations between Jiau and hedge fund manager Samir Barai were admissible. Unlike the wiretaps in the Rajaratnam case, which were recorded by the Federal Bureau of Investigation, Jiau's calls were actually taped by Barai and his employees at Barai Capital Management: Barai is hearing impaired, and in addition to taping conversations frequently had employees listen in.
"I don't think Sam wanted them to know that a third person was listening," one of those employees, Jason Pflaum, who has pleaded guilty and is cooperating with prosecutors, said yesterday.
Jiau's trial is set to begin on June 1.
In addition to Pflaum, five other people have pleaded guilty in the case, including, this week, former Primary Global consultant Manosha Karunatilaka. In addition, two former SAC Capital Advisors traders, Noah Freeman and Donald Longueuil, have pleaded guilty; Jiau is accused of passing tips to the former. Barai has not yet pleaded guilty, but is in talks with prosecutors.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…