Tuesday, 2 June 2015
Last updated 22 min ago
Nov 5 2013 | 8:10am ET
Former hedge fund manager Doug Whitman has appealed his conviction on insider-trading charges.
Lawyers for the Whitman Capital Management founder complained that they were not permitted to present testimony from an expert witness who would have told a jury that Whitman's activities were not consistent with insider-trading.
The U.S. Second Circuit Court of Appeals in New York is considering Whitman's case. The California man was convicted of conspiracy and securities fraud in August 2012 and sentenced to two years in prison in January.
Whitman himself testified at trial, telling the jury that he did not trade on material, non-public information and explained that his understanding was that it is only illegal to trade on precise numbers received from corporate insiders, and not merely on general information.
Whitman has remained free on bail pending his appeal.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…