Wednesday, 17 September 2014
Last updated 4 hours ago
Nov 6 2009 | 1:34pm ET
Another day, another asset manager indicted for insider trading.
Former portfolio manager for the Jefferies Paragon Fund Joseph Contorinis was indicted today by a grand jury on fraud charges involving an alleged $7.2 million insider-trading scheme.
Contorinis, who was arrested in February, was charged with utilizing and benefiting from non-public information about grocery chain Albertson’s Inc. His alleged co-conspirator, Nicos Stephanou, who served as an associate director of mergers and acquisitions at investment bank UBS, pled guilty in May to providing Contorinis with the non-public information.
From 2004 to June 2006, “Stephanou provided Contorinis, and others known and unknown, with UBS insider information,” states the indictment.
At UBS, Stephanou, who worked out of the firm’s London office, passed along tips about the possible Albertson’s acquisition to at least three people, including long-time friend Contorinis. The two also once worked together at Credit Suisse First Boston.
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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