Saturday, 20 December 2014
Last updated 21 hours ago
Sep 21 2011 | 2:35am ET
Former Primary Global Research sales executive James Fleishman was found guilty of insider-trading charges yesterday, the 14th of the 15 people charged in the case to be convicted or to plead guilty.
It took a Manhattan jury just six hours to reach its verdict on the two counts of conspiracy. Fleishman faces up to 25 years in prison when he is sentenced on Dec. 21; he remains free on bail until then.
The jury was given the case yesterday after a two-and-a-half week trial that featured wiretapped phone calls and several cooperating witnesses, including former Primary Global consultants. Prosecutors accused Fleishman of connecting money managers, including hedge fund managers, with corporate insiders to facilitate the exchange of confidential information. They said he earned more than $800,000 between 2008 and 2010.
Fleishman’s lawyer countered that his client was an honest salesman who could not have known that his experts were passing material, non-public information.
Fleishman is the second person convicted in the case; Winifred Jiau, a former consultant for Primary Global, was convicted in June. She is scheduled to be sentenced today.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.