It's going to be a bad holiday season for some evil doers. Some of this sounds familiar... I wonder if there are any familiar names in this probe. Should be an interesting Dec.... and Jan.... and Feb 11, 2011.
Wiretaps captivate NY insider trading trial
Tapes at NY insider trading trial show it's not always a day at the beach for 'Mr. October'
Tom Hays and Larry Neumeister, Associated Press, On Sunday March 27, 2011, 6:02 pm EDT
The recordings -- some crude and silly, others complex and confusing, all allegedly illegal -- are key evidence in the case against Raj Rajaratnam, the former hedge fund manager who before his arrest in 2009 made a fortune for himself and others with his mastery of the technology and other markets. Prosecutors say the calls, combined with the testimony of cooperators, pull back the curtain to reveal how Rajaratnam was cultivating friendships with cash, trading advice and family vacations while committing his crimes.
Admitted inside trader testifies at NYC trial
Admitted securities fraudster testifies against former boss at NYC insider trading trial
Tom Hays, Associated Press, On Tuesday March 29, 2011, 1:10 pm
Adam Smith told jurors that he was hired in 2002 by Raj Rajaratnam's Galleon firm to manage a $100 million fund. Two years later, he said he told the defendant that an Intel executive had offered to leak him advance notice on the computer chip maker's quarterly earnings in exchange for a consulting fee.
To cover their tracks, Smith said he and others at Galleon were under strict orders by Rajaratnam "to communicate sensitive information verbally or over the phone, but not in written form."
Freeman Told Judge Inside Tips Came From Taiwan
By David Glovin and Patricia Hurtado - Feb 9, 2011 5:36 PM CT
Former SAC Capital Advisors LP portfolio manager Noah Freeman told a judge that his illegal inside tips came from sources in California, New York, Texas and Taiwan, according to a court transcript.
In his plea, Freeman said he worked from 2005 to 2010 at two hedge funds, which he didn’t identify, and on several occasions paid insiders for “detailed financial information including revenues and, on some occasions, gross margins and earnings per share.”
“Some of the people with whom I -- from whom I received information were based in other states including California, New York and Texas, and others were abroad including in Taiwan,” Freeman said, according to the transcript.
----Shortly thereafter, one hedge fund manager, through a prime broker, bought more than 118,000 shares of Marvell.
December 29, 2010, 12:56 pm Hedge Funds | Legal/Regulatory
Another Defendant Emerges in Insider Trading Inquiry
Prosecutors allege that Ms. Jiau provided two money managers at different hedge funds with non-public information about Marvell Technology Group and other companies. Shortly thereafter, one hedge fund manager, through a prime broker, bought more than 118,000 shares of Marvell.