Bloomberg reports that a former Primary Global Research LLC consultant got friends at Nvidia Corp. (NVDA) and Marvell Technology Group Ltd. (MRVL) to give her financial data she sold to her “hedge fund paymasters,” a prosecutor told a jury.
“This was a brazen insider-trading scheme, and at the heart of it was Winifred Jiau,” Assistant U.S. Attorney Avi Weitzman said yesterday in closing arguments at her trial in Manhattan federal court. “Just like her hedge fund clients, she did it for the money,” he said.
Jiau, 43, is charged with illegally passing nonpublic financial information about the two Santa Clara, California- based technology companies to hedge fund managers. She’s the first of the so-called expert networkers to go on trial since the U.S. charged at least a dozen people beginning in November….
http://www.bloomberg.com/news/2011-06-16/networker-used-friends-to-help-fund-paymasters-jury-told-1-.html
No comments:
Post a Comment