Tuesday, 23 September 2014
Last updated 11 hours ago
Mar 14 2012 | 1:06pm ET
Accused hedge fund tipster John Kinnucan pleaded not guilty to insider-trading charges this morning.
Kinnucan entered his plea during a brief hearing before U.S. District Judge Deborah Batts in Manhattan. The expert-network founder has been jailed in his hometown, Portland, Ore., since his arrest a month ago; he has been unable to meet the $5 million bail terms set by Batts.
Kinnucan is charged with conspiracy and securities fraud. Prosecutors say that Kinnucan obtained confidential corporate information from insiders and passed it along to clients of his Broadband Research, among them a number of prominent hedge funds. Two of those alleged sources have already pleaded guilty to tipping Kinnucan and are cooperating with the investigation.
Prosecutors said today that they would turn over thousands of wiretapped conversations to Kinnucan's lawyers. The black humor is not likely lost on Kinnucan, who gained a modicum of fame in October 2010 when he e-mailed about 50 clients to inform them that the FBI had approached him about wearing a wire and that he had refused. Among the recipients were employees of hedge funds Coatue Management, Citadel Investment Group, Maverick Capital and SAC Capital Advisors.
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…
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