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Hedgetalk
by Alex Akesson on November 6, 2009
The charged defendants include hedge fund managers and trading firm executives, lawyers and corporate insiders. Five of the charged defendants previously pleaded guilty to insider trading charges in Manhattan federal court. The defendants collectively are charged with allegedly participating in insider trading schemes that generated more than $20 million in illegal profits.
“If you talk on the phone, we may be listening, there’s always a chance the person you conspire with is working for us.” FBI Assistant Director Joseph M. Demarest Jr. stated, “Insider trading provides an illegal competitive edge over honest players in the hedge fund business. Our job is to ensure a level playing field through enforcement and deterrence.”
Full list of persons and charges
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