Hedge Fund Tipster Seeks Freedom With Insider-Trading Appeal

Apr 11 2013 | 11:06am ET

Former expert-network consultant Winifred Jiau asked a federal appeals court to toss her 2011 conviction on insider-trading charges, for which she is serving a four-year prison sentence.

Jiau's lawyer, Randa Maher, told the U.S. Second Circuit Court of Appeals that the tips Jiau provided weren't material and that the trial judge erred in allowing the jury to hear wiretapped phone calls between her and a hedge fund manager, Barai Capital Management's Samir Barai.

Jiau was convicted of passing confidential information to Barai about several technology companies, including Marvell Technology Group.

"There's no evidence in the record that Ms. Jiau was the golden ticket that caused BCM to trade in Marvel," Maher said. She also challenged the conspiracy allegation, noting that Jiau did not compensate her sources in cash.

Prosecutor David Miller told the court that the evidence in the case "was overwhelming." At least one member of the three-judge panel seemed inclined to agree.

"There was enough evidence, to me, to go to the jury," U.S. Circuit Judge John Walker said.

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