Tuesday, June 26, 2012

FBI Nabs Insider Trading Exec

Reuters reports that law enforcement authorities said on Tuesday they arrested and charged an executive at an investment research firm as part of the government's wide-ranging probe of insider trading at the now-defunct Galleon Group hedge fund.

Tai Nguyen of research firm Insight Research LLC surrendered to the FBI Tuesday morning, an FBI spokesman said, and was expected to appear in federal court in Manhattan later in the day.

Nguyen was facing charges related to insider trading, the FBI said, but the exact charges have not yet been made public.

The FBI and federal prosecutors in Manhattan have mounted a campaign to root out insider trading on Wall Street, focusing in part on employees at so-called expert network firms who they say helped funnel corporate secrets from consultants at companies to hedge funds. The FBI said Nguyen was charged as part of its investigation of wrongdoing at billionaire Raj Rajaratnam's Galleon fund…

Read all about it at http://www.reuters.com/article/2012/06/26/us-insidertrading-nguyen-idUSBRE85P0XO20120626

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