{"id":37081,"date":"2013-07-31T12:35:39","date_gmt":"2013-07-31T16:35:39","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=37081"},"modified":"2013-10-18T13:33:54","modified_gmt":"2013-10-18T17:33:54","slug":"feds-charge-two-more-in-hedge-fund-fiasco","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/07\/2013\/feds-charge-two-more-in-hedge-fund-fiasco.html","title":{"rendered":"Feds Charge Two More In Hedge Fund Fiasco"},"content":{"rendered":"<p><a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2013\/07\/sandeep-aggarwal-1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright  wp-image-37086\" alt=\"sandeep-aggarwal-1\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2013\/07\/sandeep-aggarwal-1.jpg\" width=\"278\" height=\"286\" srcset=\"https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2013\/07\/sandeep-aggarwal-1.jpg 348w, https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2013\/07\/sandeep-aggarwal-1-292x300.jpg 292w\" sizes=\"auto, (max-width: 278px) 100vw, 278px\" \/><\/a>New York (HedgeCo.Net) &#8211; In the latest news regarding Stephen Cohen&#8217;s embattled hedge fund SAC Capital, analyst\u00a0Sandeep Aggarwal and portfolio manager\u00a0Richard Lee\u00a0have been\u00a0charged with insider trading.<\/p>\n<p>According to the SEC complaint filed in federal court in Manhattan, Aggarwal covered both Microsoft and Yahoo for his research firm and regularly received periodic updates from his inside source at Microsoft. Upon learning that Microsoft and Yahoo were potentially within two weeks of finalizing a deal, Aggarwal shared very specific details with Lee.\u00a0Lee then purchased large amounts of Yahoo stock in the hedge fund that he managed as well as in his personal trading account on the basis of the inside information.<\/p>\n<p>In a parallel action, the Attorney&#8217;s Office announced criminal charges against Aggarwal, who lives in India but recently returned to the U.S.\u00a0\u00a0He was arrested in San Jose, California.<\/p>\n<p>Six SAC employees have already been criminally charged with insider trading, and two of them have pleaded guilty. A SAC affiliate has agreed to pay $615 million to settle SEC charges.\u00a0FBI Assistant Director George Venizelos said: &#8220;SAC Capital and its management fostered a culture of permissiveness. SAC not only tolerated cheating, it encouraged it.&#8221;\u00a0Cohen himself has taken the 5th,\u00a0declining to testify before a grand jury.<\/p>\n<p>Alex Akesson<br \/>\nEditor for\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; In the latest news regarding Stephen Cohen&#8217;s embattled hedge fund SAC Capital, analyst\u00a0Sandeep Aggarwal and portfolio manager\u00a0Richard Lee\u00a0have been\u00a0charged with insider trading. According to the SEC complaint filed in federal court in Manhattan, Aggarwal covered both [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,16034,3],"tags":[],"class_list":["post-37081","post","type-post","status-publish","format-standard","hentry","category-hedge-fund-fraud","category-hedge-fund-rulings","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/37081","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=37081"}],"version-history":[{"count":8,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/37081\/revisions"}],"predecessor-version":[{"id":38699,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/37081\/revisions\/38699"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=37081"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=37081"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=37081"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}