Arrests tied to the insider-trading case involving Galleon Group LLC made obtaining illegal tips harder and often less specific, an analyst for former Diamondback Capital Management LLC fund manager Todd Newman testified.
Former Diamondback Capital Management LLC fund manager Todd Newman, facing sentencing May 2 for his role in a $72 million insider-trading scheme, asked for a lesser sentence than the 78-month maximum prison term sought by U.S. court officials.
Former Diamondback Capital Management LLC fund manager Todd Newman was sentenced to 4 1/2 years in prison for his role in an insider-trading scheme that used tips from technology company insiders to earn $72 million.
Level Global Investors LP co-founder Anthony Chiasson, who left SAC Capital Advisors LP to start his hedge fund, and former Diamondback Capital Management LLC portfolio manager Todd Newman were convicted in an insider- trading scheme that reaped more than $72 million.
SAC Capital Advisors LP’s Michael Steinberg became the fund’s longest-serving manager to be convicted of insider trading in a U.S. victory that may increase pressure on his accused one-time colleague, Mathew Martoma, to cooperate in the probe of founder Steven A. Cohen.
Former Diamondback Capital Management LLC fund manager Todd Newman helped arrange secret payments to the wife of a man who was the source of illicit tips on Dell Inc., a former Diamondback analyst testified.