Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

http://www.businessweek.com/ap/2012-11-14/ny-testimony-payments-for-inside-tips-were-hidden

AP News

NY testimony: Payments for inside tips were hidden


NEW YORK (AP) — An ex-analyst has testified for the government at a New York insider trading trial that payments for inside information were funneled through the spouse of a corrupt analyst.

Ex-analyst Jesse Tortora testified Wednesday in federal court in Manhattan. He says a hedge fund went to great lengths to hide tens of thousands of dollars paid to the wife of a technology analyst for work she never did.

Tortora testified at the trial of two hedge fund managers that the wife was paid to hide the efforts of an analyst who was passing along inside information about Dell Inc. Prosecutors say those tips resulted in more than $50 million in illegal profits.

The case is part of the government's crackdown on stock secrets being passed along as legitimate research.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus