Tuesday, 27 January 2015
Last updated 47 min 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."
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…