Sunday, 28 December 2014
Last updated 1 hour ago
Mar 12 2013 | 12:49pm ET
An expert networker who passed confidential corporate information to two hedge fund employees should spend almost four years in prison—at least—prosecutors said yesterday.
The U.S. Attorney's Office in Manhattan asked a federal judge to sentence Tai Nguyen to between three years and 10 months, and four years and nine months in prison. Nguyen pleaded guilty in July to conspiracy, admitting that he tipped Barai Capital Management founder Samir Barai and former SAC Capital Advisors analyst Noah Freeman about medical and veterinary device-maker Abaxis. Freeman ran his own equity research firm, Insight Research, and was a consultant for expert-network Primary Global Research, which was at the center of the government's recent crackdown on insider-trading.
Nguyen's lawyer, David Wilkerson, last week sought leniency for his client, who will be sentenced on Thursday.
"He is not a dangerous man who needs to be imprisoned to protect the public," Wilkerson wrote. "He has acknowledged the appropriateness of punishment through his acceptance of responsibility and consent to forfeiture. He has been punished in a unique fashion by having done terrible damage to his relationships with his siblings."
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.