Level Global Founder, SAC Trader Arrested In Insider-Trading Case

Jan 18 2012 | 10:04am ET

The Federal Bureau of Investigation today arrested seven people, including at least three hedge fund traders, as part of a massive federal probe into insider-trading.

The arrests of Anthony Chiasson, of founder of Level Global Investors, and Todd Newman, a former manager at Diamondback Capital Management, have been expected since late last year. Jon Horvath is the first current SAC Capital Advisors employee arrested in a pair of high-profile insider-trading probes that have ensnared some 50 people.


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