Goldman Hedge Fund Salesman Eyed In Insider Case

Feb 29 2012 | 4:33am ET

Another Goldman Sachs executive has become the subject of some unwanted scrutiny from the Justice Department's ongoing insider-trading investigation.

Authorities are looking into David Loeb, a top salesman at the investment bank with a Rolodex full of technology hedge-fund clients. The Federal Bureau of Investigation is probing whether Loeb passed confidential information on to those clients, The Wall Street Journal reports.

News that Loeb is a target of the investigation comes just weeks after another Goldman executive, Taiwan research chief Henry King, was reported to be under scrutiny himself for leaking information to hedge funds. King and Loeb have worked closely together, including attending several meetings together with Galleon Group and other hedge funds.

According to the Journal, Loeb is the Goldman source identified as "Mr. X" by prosecutors in the case against former Goldman director Rajat Gupta, charged with tipping Galleon founder Raj Rajaratnam. Loeb is expected to testify at Gupta's trial.

An FBI agent said this week that the government is seeking to build insider-trading cases against 120 people, on top of the 66 it has already charged.


In Depth

Israeli Hedge Fund Harnesses Big Data

Jul 28 2014 | 8:10am ET

Apica Green is a multi-million dollar Israeli hedge fund that is based in Tel Aviv...

Lifestyle

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Guest Contributor

The Truth About Track Record Portability

Jul 24 2014 | 5:55am ET

The number of private funds converting to mutual funds has increased significantly...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note