Tuesday, 2 September 2014
Last updated 25 min ago
Jun 8 2011 | 11:35am ET
The first man arrested in the Justice Department's ongoing insider-trading investigation became the ninth to plead guilty yesterday.
Don Ching Trang Chu admitted that he sold confidential information to hedge funds during his time with expert network Primary Global Research.
"I occasionally was present for in-person meetings in Taiwan between PGR clients and PGR consultants during which some of the PGR consultants disclosed to the PGR clients material, non-public information," Chu said during his plea hearing in Manhattan federal court. "I understood that the PGR clients intended to use that information in connection with the purchase or sale of securities by the hedge funds for which they worked." Chu's admission comes in the midst of the first trial stemming from the expert-network crackdown, that of former Primary Global consultant Winifred Jiau.
Chu was accused of passing tips to former SAC Capital Advisors trader Richard Choo Beng Lee, who pleaded guilty as part of the Galleon Group insider-trading case.
Chu faces up to 25 years in prison when he is sentenced on Sept. 7, although his plea agreement calls for no more than six months in jail.
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…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...