Tuesday, 16 September 2014
Last updated 18 min ago
Mar 27 2014 | 11:57am ET
Adding insult to injury, a jailed expert networker has been hit with a $6.33 million bill from the Securities and Exchange Commission.
John Kinnucan, the once-defiant technology analyst who pleaded guilty in 2012 to passing confidential tips to hedge funds, was ordered to pay $1.58 million in ill-gotten gains and another $4.75 million in fines. The penalty imposed by U.S. District Judge Alison Nathan was the maximum; the judge noted Kinnucan’s “high degree of bad intent.”
That bad intent was most clear in the months before his arrest in 2012, when he made a series of threatening and anti-Semitic phone calls to prosecutors. He was sentenced to 51 months in prison, a term he is currently serving at a California penitentiary.
The SEC levy comes on top of $164,000 Kinnucan was ordered to forfeit as part of his criminal case.
Kinnucan made something of a name for himself in 2010, when he announced in an e-mail to his clients—among them Coatue Management, Citadel Investment Group, Maverick Capital and SAC Capital Advisors—that the Federal Bureau of Investigation had asked him to record his conversations with them. Kinnucan refused.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
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