New York Times – As of today, seven people have been charged in an insider-trading investigation focused on investors and consultants connected to Primary Global Research, an expert-network firm. The cases, brought by Preet Bharara, the United States attorney in Manhattan, paint a disturbing picture of how some hedge funds have used this company to illegally procure information and distort the workings of a healthy financial market.
The prosecutions charge that insiders at major technology companies have masqueraded as consultants and “sold out their employers by stealing and then peddling their valuable inside information” to hedge funds. In the complaints, Mr. Bharara charges that Primary Global has paid employees or their friends for inside tips, and charged hedge funds for making the match.
