Wednesday, 1 July 2015
Last updated 10 hours ago
Oct 7 2011 | 10:39am ET
A hedge fund manager who pleaded guilty in the Galleon Group insider-trading case has now settled Securities and Exchange Commission civil charges against him.
Steven Fortuna will pay $300,000 under a settlement approved by a federal judge. He pleaded guilty in 2009 to trading on a tip he received from former New Castle Partners executive Danielle Chiesi, a key member of Galleon founder Raj Rajaratnam's insider-trading ring.
The SEC agreed to drop its charges against Fortuna's hedge fund, S2 Capital Management, which has "ceased operations and is essentially defunct."
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…