Meet Anthony Chiasson, The Hedge Funder That Just Turned Himself In To The FBI For Insider Trading

[kpete]

Meet Anthony Chiasson, The Hedge Funder That Just Turned Himself In To The FBI For Insider Trading
Read more: http://www.businessinsider.com/meet-anthony-chiasson-the-hedge-funder-currently-negotiating-arrest-with-the-fbi-2012-1#ixzz1jvgCcg4m

Anthony Chiasson, 38, who co-founded Level Global Investors LP with David Ganek in 2003, was among those taken into custody. He helped build New York-based Level Global into a $4 billion firm before shutting it down last February because of the probe. Chiasson and others at the fund made $57 million on illegal trades on Dell Inc. (DELL) and the alleged scheme netted $61.8 million altogether, according to complaint. That’s almost as much as Rajaratnam, who ran Galleon Group LLC and is now serving 11 years in prison for insider trading after being found guilty in May.

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Noah Freeman, a former analyst at Stamford, Connecticut- based SAC, testified in June at a criminal trial in a related case that he had traded on inside information a half-dozen times while at the hedge fund. Freeman, who was fired from SAC in January 2010, pleaded guilty in February to insider trading.

Jonathan Gasthalter, a spokesman for SAC Capital, said the hedge fund is continuing to cooperate with the government’s investigation. He declined to comment further.

Yesterday’s charges involved a circle of friends “who essentially formed a criminal club whose purpose was profit and whose members regularly bartered lucrative inside information,” said U.S. Attorney Preet Bharara. “It was a club where everyone scratched everyone else’s back.”

MORE:
http://www.bloomberg.com/news/2012-01-19/u-s-vows-to-expand-insider-trading-probe-as-fourth-ring-charged.html

[msongs]

1. perhaps the dam is breaking and many more will be arrested, like thousands more nt