Ex-Hedge Fund Manager Asks Court To Toss Conviction

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.


In Depth

FINalternatives Survey: We Asked Investment Pros...

Apr 2 2016 | 9:42pm ET

The data from our annual reader survey continues to roll in and provide interesting...

Lifestyle

Point72's Cohen Donates $275M To Veterans Mental Health Network

Apr 6 2016 | 8:31pm ET

Billionaire hedge fund manager Steve Cohen has formed a non-profit aimed at treating...

Guest Contributor

Agecroft: Why NYCERS Should Reconsider Exiting All Hedge Funds

Apr 18 2016 | 5:51pm ET

The recent decision by the New York City Employment Retirement System to exit its...