Monday, 30 May 2016
Last updated 2 days ago
Jun 20 2011 | 1:47pm ET
Federal prosecutors scored their third insider-trading jury verdict in the past two months today with the conviction of accused hedge fund tipster Winifred Jiau.
A Manhattan jury found Jiau guilty of one count of conspiracy to commit securities fraud and one count of securities fraud. The government had accused the former Primary Global Research consultant of selling confidential information about two technology companies to two hedge fund managers.
Jiau, who has been jailed since her arrest last year, is the first person to face trial in the Justice Department's crackdown on expert networks. A total of 13 people have been charged in that case; eight have pleaded guilty, including several of the witnesses against Jiau during the two-week long trial.
The jury took just two days to find Jiau guilty, having been handed the case on Friday.
Jiau's lawyer, Joanna Hendon, said she would file an appeal after Jiau is sentenced on Sept. 21.
Jiau's conviction follows those of four men in the Galleon Group insider-trading case over the past two months. Galleon founder Raj Rajaratnam went down last month, while Zvi Goffer, Emanuel Goffer and Michael Kimelman were convicted one week ago.