{"id":30555,"date":"2012-08-07T05:56:39","date_gmt":"2012-08-07T09:56:39","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=30555"},"modified":"2012-08-07T07:11:19","modified_gmt":"2012-08-07T11:11:19","slug":"witness-for-the-prosecution-tells-of-here-hedge-fund-insider-trading-involvement","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/08\/2012\/witness-for-the-prosecution-tells-of-here-hedge-fund-insider-trading-involvement.html","title":{"rendered":"Witness For Whitman Prosecution Tells Of Her Hedge Fund Insider Trading Involvement"},"content":{"rendered":"<p><a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2012\/08\/data-2.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-full wp-image-30556\" title=\"Roomy Khan\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2012\/08\/data-2.jpg\" alt=\"\" width=\"216\" height=\"246\" \/><\/a>New York (HedgeCo.Net) &#8211; Roomy Khan, a government co-operator in the biggest hedge fund insider trading conspiracy in US history, spoke yesterday at the trial of\u00a0San Francisco hedge fund\u00a0manager\u00a0Doug Whitman\u00a0who stands accused of making almost $1 million using insider tips from Khan and other conspirators.<\/p>\n<p>Khan has pleaded guilty to passing inside information to Galleon Group fund manager Raj Rajaratnam, who\u00a0is currently serving an 11-year prison sentence.\u00a0The insider-trading case against Galleon Group co-founder Raj Rajaratnam was sparked by information from Khan.<\/p>\n<blockquote><p><em><strong>NYT reports<\/strong>:<\/em> In a pretrial hearing, Mr. Whitman&#8217;s lawyers said Ms. Khan cooperated with the government for months before she finally pointed the finger at Mr. Whitman. &#8220;That sequence of events we submit goes directly to the credibility of what Khan is saying,&#8221; said\u00a0David Anderson, Mr. Whitman&#8217;s lead defense attorney in the hearing. &#8220;Ms. Khan is still out there trying to hustle up her cooperation credit,&#8221; he said.<\/p>\n<p><strong><em>Reuters\u00a0said<\/em><\/strong>: Whitman is charged with securities fraud and conspiracy in making $900,000 illegally on inside information, the latest strand of the high-profile Galleon hedge fund prosecutions against dozens of money managers and traders over the past three years. So far, all have pleaded guilty or were convicted at trial.<\/p>\n<p>The charges carry a combined possible maximum prison term of 25 years. Whitman&#8217;s trial before U.S. District Judge Jed Rakoff began on July 31 and is expected to last three weeks.<\/p><\/blockquote>\n<p>Doug Whitman has pleaded not guilty. His lawyer told the jury that Whitman &#8220;did not pay or corrupt anyone for inside information.&#8221;<\/p>\n<p>Alex Akesson<br \/>\nEditor for <a title=\"hedge funds\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.net<\/a><br \/>\n<a href=\"mailto:alex@hedgeco.net\">alex@hedgeco.net<\/a><br \/>\n<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.Net<\/a> is a premier <a title=\"hedge fund database\" href=\"http:\/\/www.hedgeco.net\">hedge fund database<\/a> and community for qualified and accredited investors only. Membership in <a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.net<\/a> is FREE and EASY. We also offer FREE LISTINGS for <a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">Hedge Funds<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (HedgeCo.Net) &#8211; Roomy Khan, a government co-operator in the biggest hedge fund insider trading conspiracy in US history, spoke yesterday at the trial of\u00a0San Francisco hedge fund\u00a0manager\u00a0Doug Whitman\u00a0who stands accused of making almost $1 million using insider tips [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,3],"tags":[],"class_list":["post-30555","post","type-post","status-publish","format-standard","hentry","category-hedge-fund-fraud","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/30555","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=30555"}],"version-history":[{"count":8,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/30555\/revisions"}],"predecessor-version":[{"id":30560,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/30555\/revisions\/30560"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=30555"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=30555"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=30555"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}