Thursday, 23 March 2017
Last updated 43 min ago
Apr 13 2012 | 11:10am ET
The money manager arrested alongside three hedge funders in January is poised to plead guilty.
Danny Kuo, a technology fund manager at Whittier Trust Co., will cooperate with prosecutors, Bloomberg News reports. Kuo was allegedly part of an insider-trading that earned more than $60 million in illegal profits.
The three others, Level Global Investors founder Anthony Chiasson, former Diamondback Capital Management portfolio manager Todd Newman and former SAC Capital Advisors analyst Jon Horvath have all pleaded not guilty.
Kuo would be the fourth man to plead guilty and cooperate with the authorities in the present case.