New Charges In Hedge Fund Insider-Trading Case

Feb 8 2012 | 1:32pm ET

Level Global Investors co-founder Anthony Chiasson and former Diamondback Capital Management trader Todd Newman have a few more allegations to fight in court.

Prosecutors yesterday added new securities fraud charges against Chiasson and Newman, bringing the total number of charges to 10. The grand jury also named former SAC Capital Advisors trader Jon Horvath and Whittier Trust Co.'s Danny Kuo.

The four men were arrested and initially charged last month, along with three other men who have pleaded guilty and who are cooperating with prosecutors.

The four remaining defendants are all free on bail.

According to U.S. Attorney Preet Bharara, the seven were members of a "criminal club," earning more than $60 million on traded confidential information.


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Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

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