Jury Picked In Chiasson, Newman Trial

Nov 9 2012 | 10:19am ET

A jury will begin hearing arguments on the alleged crimes and fates of two hedge fund managers on Tuesday.

A jury of seven women and five men was empanelled Wednesday and yesterday to hear the insider-trading cases of Level Global Investors founder Anthony Chiasson and former Diamondback Capital Management portfolio manager Todd Newman. Opening statements in the case, expected to start yesterday, will now be heard starting Tuesday—Monday is Veteran's Day.

Three alternate jurors were also picked. Among the members of the panel are an unemployed dog-walker, a registered nurse who claims to own a "parrot with an attitude," a science-fiction loving Manhattan bartender, a computer-animation technical director and a retired postal worker.

U.S. District Judge Richard Sullivan told the jury that the trial could take up to five weeks.

Prosecutors have accused Chiasson and Newman of being members of a "criminal club" that traded in confidential tips about technology companies and made $60 million doing so. Among the men expected to testify against the defendants are two former co-defendants who struck deals with prosecutors ahead of trial, and two other cooperating witnesses.

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Editor's Note

    Oct 21 2015 | 10:41am ET

    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…