Manhattan US Attorney Preet Bharara’s latest insider-trading
battle against a “fight club” of corrupt analysts is already drawing blood. Prosecutor Richard Tarlowe told a Manhattan
federal jury yesterday that former hedge-fund hot shots Anthony Chiasson and
Todd Newman made millions trading tech stocks based on confidential tips
gleaned from a tight-knit network of analysts.
Tarlow said in opening arguments that the government can
prove through witness testimony, e-mails and instant messages that Chiasson and
Newman knew the tips they received from analysts were company secrets.
The government has accused Chiasson, co-founder of hedge
fund Level Global Investors, and Newman, a former portfolio manager with
Diamondback Capital Management, of racking up more than $60 million in illegal
profits trading Dell and Nvidia between 2007 and 2009….
No comments:
Post a Comment