Don Ching Trang Chu, a former consultant at Primary Global Research LLC, avoided prison with a sentence of two years probation for passing confidential information to the expert-networking firm’s hedge fund clients.
While prosecutors await a jury’s verdict in the trial of Galleon Group LLC’s Raj Rajaratnam, they may take comfort that four defendants tied to the insider- trading probe that began with him are pursuing plea deals.
For technology companies, Taiwan is home to the biggest custom producers of chips used in products like Apple ’s iPhone and Dell computers. For hedge funds, it’s a cornucopia of confidential data, leaked from chipmakers and parlayed into an edge in trading stocks of their U.S. customers.
Jurors deciding the insider-trading trial of Galleon Group LLC co-founder Raj Rajaratnam failed to reach a verdict after a week of deliberations and are set to return May 2 to resume weighing evidence.
Alexei Koval , who prosecutors said conspired with UBS AG investment banker Igor Poteroba to earn almost $1 million in profits through insider trading, sought release on bail today after being indicted.
Don Chu spent years building technology contacts in his native Taiwan before a hedge fund manager with a history of insider trading secretly recorded him at the behest of the U.S. Federal Bureau of Investigation.
Former Primary Global Research LLC consultant Don Ching Trang Chu pleaded guilty and admitted helping employees of public companies pass confidential information to the expert networking firm’s hedge fund clients.
Mutual funds’ ties to so-called expert networks that have been probed as part of an insider trading investigation may undermine efforts by the industry to stem three years of client withdrawals from stock funds.