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Thursday, November 05, 2009
Hedge Fund Players Plead Guilty To Insider Trading
By Alistair Barr
MarketWatch Pulse
SAN FRANCISCO -- A leading federal prosecutor said Thursday that five players in the $1.5 trillion hedge fund industry pleaded guilty to insider trading as a crackdown on the illegal activity grows. The people are: hedge fund consultant Roomy Khan; Choo-Beng Lee and Ali Far, founders and managing partners at Far & Lee and Spherix Capital; Gautham Shankar, a former proprietary trader at Schottenfeld Group LLC; and Steven Fortuna, co-founder and principal of S2 Capital. "If criminal activity is your business model, then criminal activity has to stop," Preet Bharara, U.S. attorney for the southern district of New York, said during a press conference.
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