Tuesday, 22 July 2014
Last updated 2 hours ago
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.
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…