This just came in over the Bloomberg: Wesley Wang, a former
analyst for SAC Capital Advisors' Sigma Capital unit, has told federal agents
the names of 20 more people who he claims traded on insider information. Some
had not been charged in the ongoing investigation.
This could be a problem for Steve Cohen's firm SAC Capital.
That's because Wang first came into the spotlight in July when he admitted to
passing inside information about Cisco and other companies to Dipak Patel, a
portfolio manager at SAC subsidiary Sigma Capital.
The backstory: Wang pleaded guilty to two counts of
conspiracy to committ securities fraud and testified against hedge fund manager
Doug Whitman (of Whitman Capital LLC), who was also found guilty of two counts
of conspiracy for trading on illegal tips in August, according to Bloomberg.
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