{"id":36037,"date":"2013-06-10T11:48:58","date_gmt":"2013-06-10T15:48:58","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=36037"},"modified":"2013-06-10T11:57:13","modified_gmt":"2013-06-10T15:57:13","slug":"36037","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/06\/2013\/36037.html","title":{"rendered":"SEC Charges California Hedge Fund Manager in Insider Trading Investigation"},"content":{"rendered":"<p><a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2011\/10\/sec_building.gi_.top_.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-25666\" alt=\"sec_building.gi.top\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2011\/10\/sec_building.gi_.top_-300x208.jpg\" width=\"300\" height=\"208\" srcset=\"https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2011\/10\/sec_building.gi_.top_-300x208.jpg 300w, https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2011\/10\/sec_building.gi_.top_.jpg 495w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>New York (HedgeCo.Net) &#8211; The SEC has charged a California-based wealth management company and a former hedge fund manager with insider trading on non-public information about technology companies.<\/p>\n<p>The SEC alleges that Whittier Trust Company and fund manager Victor Dosti participated in an insider trading scheme involving the securities of Dell, Nvidia Corporation, and Wind River Systems. Dosti generated profits and avoided losses for funds he managed at Whittier Trust by trading on confidential information that he obtained from Danny Kuo, a Whittier Trust fund manager who Dosti supervised.\u00a0Kuo was charged by the SEC in January 2012\u00a0and is currently cooperating with the investigation.<\/p>\n<p>Whittier Trust and Dosti agreed to pay nearly $1.7 million to settle the charges.<\/p>\n<p>\u201cTime and again, Dosti received what he knew was inside information from Kuo and traded on it to generate illicit gains for the funds he managed,\u201d said Sanjay Wadhwa, Senior Associate Director of the SEC\u2019s New York Regional Office. \u201cNow, he and Whittier Trust join a long list of insider trading perpetrators who have been held accountable by the SEC for their transgressions.\u201d<\/p>\n<p>According to the SEC, Dosti used non-public information obtained from employees at Dell and Nvidia to trade in advance of five quarterly earnings announcements in 2008, 2009 and 2010. Dosti reaped profits and avoided losses of more than $475,000 for Whittier Trust funds. Dosti also made $247,000 in illicit profits for Whittier Trust funds by trading Wind River stock based upon detailed information that Kuo obtained from an Intel employee about Intel\u2019s confidential negotiations to acquire Wind River in 2009.<\/p>\n<p>&nbsp;<\/p>\n<p>Alex Akesson<br \/>\nFor\u00a0<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>\u00a0is a premier\u00a0<a title=\"hedge fund database\" href=\"http:\/\/www.hedgeco.net\/\">hedge fund database<\/a>\u00a0and community for qualified and accredited investors only. Membership in\u00a0<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\/\">HedgeCo.net<\/a>\u00a0is FREE and EASY. We also offer FREE LISTINGS for\u00a0<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\/\">Hedge Funds<\/a>!<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (HedgeCo.Net) &#8211; The SEC has charged a California-based wealth management company and a former hedge fund manager with insider trading on non-public information about technology companies. The SEC alleges that Whittier Trust Company and fund manager Victor Dosti [&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-36037","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\/36037","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=36037"}],"version-history":[{"count":7,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/36037\/revisions"}],"predecessor-version":[{"id":36044,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/36037\/revisions\/36044"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=36037"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=36037"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=36037"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}