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.


In Depth

GSAM's Papagiannis: Liquid Alternatives For The Long Run

Apr 21 2017 | 8:44pm ET

Interest in liquid alternatives cooled a bit last year amid a broad shift in investor...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Debunking Conventional Investment Wisdom (Part II)

Apr 17 2017 | 5:56pm ET

The alternative investment industry is currently replete with buzzwords around data...

 

From the current issue of