Thursday, 21 August 2014
Last updated 14 hours ago
Aug 10 2011 | 5:14am ET
The hedge fund manager that earned more than $5 million trading on confidential information has been identified as Bo Brownstein.
Brownstein is the founder of Denver-based Big 5 Asset Management. The son of a prominent Denver lawyer, he’s also the hedge fund manager referred to—but not named—as an unindicted co-conspirator in the criminal and civil charges against H. Clayton Peterson and Drew Peterson, according to published reports.
The latter, the former’s son and a money manager at Private Capital Management, allegedly passed tips about the impending acquisition of Mariner Energy—gleaned from his father, who sat on the company’s board of directors—to Brownstein. The two men are close friends, according to the criminal complaint.
Brownstein and Peterson are close friends, according to the complaint.
The Petersons pleaded guilty last week to fraud and conspiracy.
According to the complaints against the Petersons, Brownstein earned $4.6 million for Big 5, $130,000 for himself and $305,000 for his relatives. Brownstein has not been charged with any wrongdoing.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note