Sunday, 21 September 2014
Last updated 2 days 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.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.