Tuesday, November 23, 2010
Sarah Carter, Staho.com
Sarah Carter, Staho.com
FBI Raids Hedge Funds After Three Year Investigation
Hedge funds insider trading investigations directed by the office of Manhattan U.S. Attorney Preet Bharara are targetted by a three year FBI investigation, according to a person familiar with the probes, Bloomberg’s Su Keenan and Carol Massar report. The investigation shifted into high gear Monday as government agents raided the offices of three large hedge funds, sending shock waves through the financial world.
In coordinated raids in New York, Connecticut and Massachusetts, Federal Bureau of Investigation agents seized documents at the offices of Level Global Investors LP, Diamondback Capital Management LLC and Loch Capital Management LLC.
Law-enforcement agencies are using an increasingly wide range of tools to pursue alleged insider-trading rings, as the investigation clearly points it out. Insider trading has been difficult to prove to juries, since law-enforcement agencies need to demonstrate the intent to defraud.
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Posted by Editor on 11/23/10 at 08:50 AM •
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