According to none other than Charlie Gasparino, John Kinnucan, the analyst who alerted Wall Street that the FBI wanted him to secretly wiretap one of his hedge fund clients as part of its insider-trading probe, is now saying he's the one the government is looking to entrap.
In an email sent to the FOX Business Network, Kinnucan said the "Feds are at this time traversing the country, trying to con my former industry contacts into wearing a wire against me, by also threatening them with arrest if they refuse to cooperate. They try to use intimidation tactics, just as they did with me, saying things like, 'The longer you wait to cooperate, the worse it's going to be for you.'"
In a separate interview, Kinnucan added that the FBI had contacted at least five people he had done business with over the years as a researcher who provided analysis to various hedge funds about technology stocks. He declined to name any of the people contacted.
Kinnucan had run Broadband Research, a small "expert network" firm that counted as clients some of the biggest hedge funds in the country, including Citadel LLC, SAC Capital and Maverick Capital, all of which he had alerted about the Justice Department's insider-trading probe late last year when he sent out an email stating that "two fresh-faced eager beavers from the FBI" had showed up to his home in Portland, Ore., accused him of being part of an insider-trading ring and asked him to wire tap a fund manager he had done business with in exchange for leniency.
Kinnucan says he refused to cooperate, but the investigation -- the largest insider trading inquiry in years -- has so far netted a slew of arrests and plea deals, the high-profile conviction of former Galleon Group fund chief Raj Rajaratnam, and is expected to generate many more in the weeks and months to come….
So stay tuned, sportsfans. Your tax dollars are at work.
Find out the rest at http://www.foxbusiness.com/markets/2011/07/20/key-insider-trading-informant-kinnucan-says-hes-now-target/#ixzz1SfVNEzSH
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