Tuesday, June 7, 2011

Ex-SAC Manager: Jiau Was a SuperStar Tipper

According to the Wall Street Journal a former portfolio manager at hedge-fund firm SAC Capital Advisors testified Monday that a one-time consultant to an "expert-network" firm was one of his most "accurate" sources of inside information.

Noah Freeman, a former hedge-fund manager, said no other source "was within any distance" of the accuracy of nonpublic information provided by Winifred Jiau, a former consultant to California expert-network firm Primary Global Research LLC.

"It was a different order all together. It was updated more frequently, far more accurate and far more detailed than any source we ever developed," said Mr. Freeman, who has pleaded guilty to criminal charges and is cooperating with prosecutors….

There’s more. Find it at: http://online.wsj.com/article/SB10001424052702304906004576369971083794848.html

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