投资者律师博客Insider Trading: Former FrontPoint Partners Hedge Fund Manager Pleads Guilty to Criminal Charges
前线合作伙伴对冲基金经理约瑟夫·“筹码” Skowron III对涉及内部人士贸易活动的刑事指控表示认罪，这些活动为他的金融公司节省了超过3000万美元的损失。指控包括串谋提交ecurities fraud和to obstruct a Securities and Exchange Commission probe.
42岁的Skowron承认，他收到了Yves Benhamou的机密信息。After Benhamou notified him that there were certain problems with the medication, in 2008 Skowron had the hedge fund get rid of millions of dollars of shares in the company (the funds’ holdings of Human Genome Sciences Inc. (HGSI)), which is why the more than $30 million loss was averted.
本周，斯科伦（Skowron）承认，基于内部人士的提示，在六个Frontpoint Health Care基金中指导交易。他还说，他于2009年向SEC撒谎，涉及Benhamou是否给他提供了材料，非公开信息。作为他认罪协议的一部分，Skowron将没收500万美元。他还可以被命令在监狱里服役5年。他的量刑定于今年晚些时候进行。
A few months ago, FrontPoint paid $33 million to regulators over the related losses that Skowron prevented when he sold the shares. Of the $33 million, $29 million was in disgorgement of avoided losses. The remaining $4 million was for prejudgment interest.
Following the former hedge fund manager’s guilty plea, FrontPoint issued a statement saying that Skowron lied and misled the financial firm’s internal compliance team, the federal government, and the external counsel retained to independently probe his actions. FrontPoint also pointed out that it was never accused of any wrongdoing in this matter.
Over the last two years, 47 hedge fund managers are among those that have pleaded guilty to or been convicted of insider trading. These outcomes are in part because federal government has stepped up its efforts to investigate insider trading on Wall Street.
今年早些时候，曼哈顿的美国检察官普雷特·巴拉拉（Preet Bharara）指控数十名内幕贸易，他说，如此众多指控的范围表明，这个问题是“腐败的商业模式”，而不是“偶尔的腐败个人”。他谴责了在华尔街发生的“非法交易的流行”。
Insider Trading
While legal insider trading, which involves a corporate insider selling stock in the company and reporting these trades to the SEC, does exist and is an acceptable practice, illegal insider trading is against the law. This type of insider trading involves the selling or buying of securities in a manner that uses material, nonpublic information and breaches a fiduciary duty or other relationship of confidence and trust. The person being tipped the insider information, the one tipping the information, or the actual person with the tip making the trade are among those who can be charged with committing illegal insider trading.
Ex-Fund Manager Pleads Guilty to Using Inside Tips, The Wall Street Journal, August 16, 2011
Insider Inquiry Steps Up Its Focus on Hedge Funds, New York Times, February 8, 2011
更多的博客文章:
Ex-Goldman Sachs Board Member Accused of Insider Trading with Galleon Group Co-Founder Seeks to Have SEC Administrative Case Against Him Dropped, Institutional Investor Securities Blog, April 19, 2011
有44％的内幕交易者被定罪纽约的内幕交易，甚至在服务时间之前就离开了监狱, Institutional Investor Securities Blog, January 25, 2011
Janney Montgomery Scott LLC支付$ 850K，以解决据称未能防止内部交易的证bob200体育券收费, Stockbroker Fraud Blog, July 21, 2011
Contact oursecurities fraud attorneysto request your free case evaluation.