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…
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