Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Seven Charged with Counts of Insider Trading Today

Seven people have been charged with insider trading counts including securities fraud and conspiracy in Manhattan federal court today reports Bloomberg. The charges are the latest stemming from the five-year insider trading investigation led in tandem by the FBI and the Justice Department.

Those charged include Level Global Investors co-founder Anthony Chiasson, who reportedly turned himself in. Todd Newman, formerly of Diamondback Capital was also charged. He was arrested by the FBI in Boston. Ex-SAC Capital Advisors employee Jon Horvath was charged as well. He was detained in New York this morning. Danny Kuo and Sandeep Goyal were also charged. Kuo was arrested. There were two other defendants charged in the matter but there names have not been released. NVIDIA Corporation (NASDAQ:NVDA)

“The trades at issue in the new charges included securities of Nvidia Corp. (NVDA) and Dell Inc. (DELL), according to the complaint filed today against Newman, Chiasson, Horvath and Kuo by FBI Special Agent David Makol.”

“Newman caused a hedge fund to execute securities transactions in Dell based on material, nonpublic information Newman obtained from a co-conspirator,” according to the complaint, while “Chiasson caused a hedge fund to execute securities transactions in Dell based on material non-public information Chiasson obtained from a co-conspirator.”

The case is U.S. v. Newman, 12-00124, U.S. District Court for the Southern District of New York (Manhattan)

Loading Comments...