Sunday, 21 December 2014
Last updated 6 hours ago
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.
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.