Another Guilty Plea In Expert Network Case

Dec 7 2011 | 12:12pm ET

As federal prosecutors plan to lay criminal charges against several new defendants in the expert-network insider-trading case, the last of the first 15 to be arrested is set to plead guilty.

Stanley Ng is expected to enter his plea today. He will admit that he passed confidential information about his employer, Marvell Technology Group, to then-Primary Global Research consultant Winifred Jiau. Jiau, who was convicted of selling that information to three hedge fund traders, was convicted in June.

Ng's guilty plea will make prosecutors 15-for-15 in the expert-network case, having secured 13 guilty pleas and two jury verdicts. Ng was the last of those 15 arrested, in August, but it appears he will not be the last arrested in the case.

Federal authorities are poised to bring criminal charges against as many as four others, including the founder of hedge fund Level Global Investors, Anthony Chiasson, and former Diamondback Capital Management trader Todd Newman. Both Level Global and Diamondback had their offices raided by the Federal Bureau of Investigation last year as part of the expert-network probe.


In Depth

Hedge Fund Selection: Sussex Partners’ Patrick Ghali Bullish On The Best Of The Best

Oct 2 2014 | 5:56am ET

Ten years ago, Patrick Ghali and Robin Nydes co-founded Sussex Partners with the...

Lifestyle

Griffin Donates $1M To Rauner's Illinois Gov. Campaign

Sep 22 2014 | 9:29am ET

Hedge fund billionaire Kenneth Griffin definitely has a dog in this fight. The Citadel...

Guest Contributor

Appraisal Ratio Key To Evaluating Hedge Funds And Other New Investments

Sep 29 2014 | 3:07pm ET

As a former finance professor Peter Hecht experiences heartburn every time he hears...

 

Videos

Editor's Note

    Must Attend Hedge Fund Charity Events For October

    Sep 30 2014 | 9:29am ET

    The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…

 

Futures Magazine

September 2014 Cover

High frequency market making

High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.