Friday, July 11, 2014

Latest insider trading case focuses on hedge funds

February 19. 2013 5:11PM
Story Tools
PrintPrint | E-MailEMail | SaveSave | Hear Generate QR Code QR
Send to Kindle

(AP) Jurors listening to opening statements in the latest New York City insider trading trial have been promised a deep look into the hedge fund industry as they decide the fates of two former money managers.

The opening statements occurred Tuesday in the trials of former hedge fund managers Anthony Chiasson (CHEE'-ay-sahn) and Todd Newman. The two men are accused of making millions of dollars after receiving tips about the technology companies' financial results that had not yet been publically announced.

Prosecutor Richard Tarlowe told jurors that Chiasson made about $50 million from a single tip involving Dell Inc.

But Chiasson's defense lawyer, Reid Weingarten, says the Dell trade was not unusual for a $4 billion hedge fund. He says there was nothing aberrational in his client's trades.

Associated Press

comments powered by Disqus Commenting Guidelines
Mortgage Minute

Search for New & Used Cars

Used New All

Search Times Leader Classifieds to find just the home you want!

Search Times Leader Classifieds to find just what you need!

Search Pet Classifieds
Dogs Cats Other Animals

Social Media/RSS
Times Leader on Twitter
Times Leader on Youtube
Times Leader on Google+
The Times Leader on Tumblr
The Times Leader on Pinterest
Times Leader RSS Feeds