Tuesday, 28 April 2015
Last updated 2 hours ago
Feb 15 2012 | 9:14pm ET
A well-known Goldman Sachs analyst with ties to at least two hedge funds felled by the federal government's ongoing insider-trading investigation has found himself under scrutiny.
Federal criminal authorities are looking into whether Henry King leaked confidential information about technology companies to hedge funds, The Wall Street Journal reports.
King is head of Taiwan research at Goldman. In recent weeks, the firm told clients that he had taken a leave from that position after a trip to the U.S.
Former clients of King include Galleon Group and Level Global Investors; the former's founder, Raj Rajaratnam, was sentenced to 11 years in prison for insider trading, while the latter's co-founder, Anthony Chiasson, was charged with the crime last month. Both firms have since ceased to exist.
It is unclear whether either of those relationships is the focus of the investigation, or whether either side will seek to call King as a witness in the upcoming trial of Chiasson or accused Rajaratnam tipster Rajat Gupta, a former Goldman director. David Loeb, a sales manager at Goldman, is expected to testify at the Gupta trial.
Loeb joined King on several meetings with Galleon and other hedge funds, according to the Journal.
King is not the first person with ties to Taiwan to find himself ensnared in the investigation. The country is home to a large number of computer-parts makers. Two former experts with Primary Global Research, Winifred Jiau and Don Ching Trung Chu, both natives of Taiwan, have been convicted in the case. Manosha Karunatilaka, another Primary Global consultant and a former employee of Taiwan Semiconductor Manufacturing, pleaded guilty, as did Chu. A former Galleon analyst in Taiwan, Joe Liu, has been accused of passing tips to Rajaratnam, although he has not been charged in the case.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…