There’s going to be plenty of mud-slinging today in
Manhattan federal judge Richard Sullivan’s courtroom, according to the NY Post. That’s because Jesse Tortora, the
government’s first key witness in an insider-trading case against two
hedge-fund managers, will be cross-examined — and the stakes are high.
Stephen Fishbein, the defense lawyer for Tortora’s former
boss at Diamondback Capital, Todd Newman, is seeking to convince the jury that
Tortora is merely seeking to “scapegoat” his client in a bid for leniency. The tactic could work given the dearth of
direct evidence showing Newman knew the tips provided by Tortora were tainted.
The feds have accused Newman and Anthony Chiasson,
co-founder of Level Global, of making $62 million on illegal tips they got from
their research analysts....
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