BusinessDay – Barai Capital Management founder Samir Barai has pleaded guilty to securities fraud and other charges as part of the US government’s largest crackdown on insider trading at hedge funds.
Mr Barai, of New York, on Friday also pleaded guilty in a Manhattan federal court to conspiracy to commit securities and wire fraud, wire fraud and obstruction for impeding a federal grand jury probe by destroying evidence. The probe is part of a larger investigation by US Attorney Preet Bharara’s office of insider trading by hedge funds including Galleon Group.
