Winifred Jiau, the former consultant for expert-networker Primary Global who was arrested last week as part of the massive U.S. probe into insider trading, was today denied bail by a federal magistrate, according to Reuters. The decision has got to sting for Ms. Jiau, since she had previously been granted bail in Read More
Today marks an end to the long, funny, twisted tale of former car czar Steven Rattner — published author, tangler with the Securities and Exchange Commission and foister of terrible movie Chooch upon the world.
Former Obama administration auto industry czar Steven Rattner has agreed to pay Read More
The government’s quest to squelch insider trading has taken another step forward, as the Feds yesterday added Winifred Jiau to Primary Global’s list of collared consultants. And with Ms. Jiau’s arrest comes potential concerns for a trio of hedge funds, says The Wall Street Journal:
According to the complaint filed by prosecutors at Read More
Hedge fund manager and creative fundraiser Phil Falcone now faces a lawsuit that alleges impropriety in a stock swap between his Harbinger Capital Group (HGI) and Spectrum Brands, another company Mr. Falcone controls (and which makes George Foreman Grills, among other things).
“HGI is vastly overpaying for the acquisition of Read More
As The Wall Street Journal indicated yesterday, Attorney General and Governor-elect Andrew Cuomo is filing a civil suit against Ernst & Young, accounting firm to epically bankrupt firm Lehman Brothers.
Mr. Cuomo’s office alleges that Ernst & Young “explicitly approved” Lehman’s Repo 105 transactions, accounting moves that helped Lehman disguise its leverage Read More
Ernst & Young smelled what Lehman Brothers was cooking — the books! but authorities now believe the company charged with auditing the collapsed financial firm was also complicit in the company’s accounting shenanigans, according to a report from the Wall Street Journal.
In what may be his final act before he heads up to Albany Read More
Here’s Jim Chanos of $6 billion hedge fund Kynikos Associates talking with Bloomberg about the ongoing hedge fund probe. Mr. Chanos says he thinks “plain-vanilla” investigations of insider trading within companies are fine, but any moves to try to redefine inside information will face a tough battle.
“99.9 percent-plus of Wall Street Read More
Four arrests have been made on charges of securities and wire fraud in connection with the Federal Bureau of Investigation’s big-time insider trading probe, according to multiple media reports. And a fifth person has pleaded guilty to charges related to the probe, Bloomberg reports.
Today’s Wall Street Journal reveals a new figure in the Great Hedge Fund Reckoning. His name is Michael Steinberg, and he’s the first current employee of Steve Cohen’s SAC Capital to be named in connection with the FBI’s far-reaching insider trading probe.
According to The Wall Street Journal, the FBI approached expert-networker John “Nuke” Read More
These days, with all the talk of slippery New England hedge funds, grey area-dwelling expert networks and mosaic-style data-aggregation tactics, it can be tough to remember a time when insider trading was simpler. More pure. More family-focused.