The financial industry is about to get rocked by new insider trading charges, the Wall Street Journal told BusinessInsider.
One analyst at Neuberger Berman Group LLC, a mutual fund firm, and traders who worked at hedge funds Diamondback Capital Management LLC and Level Global Investors LP could see charges filed against them in just a couple of weeks.
All the firms had their offices raided a year ago.
Diamondback and Global Investors had billions of dollars in assets, but that isn't what makes this investigation bigger and badder than any before it. What makes this probe stand out is the fact that Neurberger Berman doesn't just service the uber wealthy, the mutual fund services individual investors with varied economic means and manages about $180 billion in assets, including mutual funds and investments in hedge and private-equity funds.
Here's how the insider trading allegedly worked…..
Find out more at http://www.businessinsider.com/wall-streets-next-huge-insider-trading-probe-getting-bigger-2011-12
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