NY Hedge Fund to Pay $413M to Settle Civil and Criminal Charges Over FCPA Violations Och-Ziff Capital Management Group has settled both criminal and civil charges accusing the New York hedge fund of paying bribes to obtain business in Africa. This is the first hedge fund to face punishment over…
The U.S. Supreme Court is hearing an insider trading case in which a man convicted of the crime is disputing that decision. Bassam Salman claims that he should not have been convicted of insider trading and that the trading he engaged in was not illegal. Salman made nearly $1.2M…
Massachusetts claims that Morgan Stanley Smith Barney (MS) ran a high-pressure sales contest to give its financial advisers incentive to get clients to borrow funds against their brokerage accounts. Massachusetts Secretary of the Commonwealth William Galvin filed the complaint against the firm. According to the state, from 1/14 through…
SEC Claims Peruvian Attorneys and Broker-Dealer Manager Used Accounts to Insider Trade The U.S. Securities and Exchange Commission has filed charges against three people in Peru, accusing them of insider trading prior to the merging two mining companies. The regulator wants penalties, disgorgement, and interest. According to the Commission,…
The SEC has filed insider trading civil charges against Leon G. Cooperman and his Omega Advisors. According to the regulator, the hedge fund manager made illicit profits when he bought Atlas Pipeline Partners securities right before it sold its natural gas processing facility in Oklahoma. Cooperman is accused of…
A jury has Sean Stewart, the ex-managing director of Perella Weinberg Partners LP of insider trading. Stewart is accused of giving his dad confidential tips about five health-care deals. According to prosecutors, Stewart started giving his dad insider information in 2011 while he was VP of J.P. Morgan Chase &…
Hedge Fund Managers and an Ex-Government Official Face SEC Charges The U.S. Securities and Exchange Commission has filed insider trading charges in a $32M insider trading scam. According to the regulator, hedge fund manager Sanjay Valvani unlawfully made almost $32M in profits for hedge funds that invested in healthcare securities…
The Securities and Exchange Commission has filed civil charges against professional sports gambler William Walters. He is accused of making $40M from an illegal stock tip given to him by former Dean Foods Company board member Thomas C. Davis. The regulator said that Davis, who owed Walters money, gave him…
Martyn Dodgson, a former Deutsche Bank AG (DB) broker and managing director, and Andrew Hind, an accountant, were convicted of insider trading in London. The Financial Conduct Authority said that that Dodgson and another broker gave insider information about certain business deals to Hind, who then passed on the information…
Former Goldman Employee Fined Over $900K For SEC Insider Trading Case Former Goldman Sachs (GS) compliance worker Yeu Han will pay over $903,000 to settle allegations by the U.S. Securities and Exchange Commission accusing him of insider trading. Han was hired by the firm to develop surveillance software to help…