Insider Trading Probe Now Targeting Recipients of Tips

Published by: Mike Goldman on 8th Feb 2011 | View all blogs by Mike Goldman

Insider Trading Probe Now Targeting Recipients of Tips

Authorities arrested the managers of two hedge funds Tuesday, as part of their ongoing insider trading probe, while another manager and an analyst agreed to guilty pleas in connection with the investigation. Federal prosecutors are looking into the ties between consultants and hedge funds amid allegations that these so-called expert networking firms have been improperly leaking inside information to investors.

The latest charges have been filed against an analyst and a portfolio manager who previously worked for SAC Capital Advisors, a large hedge fund. SAC itself has so far not been charged with any wrongdoing. Tuesday's charges mean that the probe has moved beyond the expert networking firms who provided the inside info and is now targeting the hedge fund managers who took the tips.

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