NEW YORK - The FBI conducted an examination of three fund management companies (hedge funds) are expected to conduct insider trading amounted to USD1, 7 trillion in stock market the United States (U.S.).
Federal prosecutors also have been preparing ourselves in order to dismantle a series of cases of insider trading that allegedly made several hedge funds, consultants and bankers on Wall Street.
Two of the hedge fund under investigation is Diamondback Capital Management LLC and Level Global Investors LP, each of which is based in Connecticut and is run by a former manager Steven Cohen's SAC Capital Advisors, one of the most famous hedge fund of hedge problems.
In addition, a company based in Boston, Loch Capital Management was also examined. Loch Capital is considered to have a close relationship with a witness is guilty in the investigation of insider trading at the Galleon Group.
"The Justice Department pledged to take a more 'stubborn' to white-collar crime to complete the examination," said professor of City University of New York's John Jay College of Criminal Justice, Eugene O'Donnell was quoted as saying by Reuters on Tuesday (23/11 / 2010).
A spokesman for the Federal Bureau of Investigation in New York and Boston said it has conducted an investigation to execute warrants in connection with the ongoing investigation.
Approximately 10 am, FBI agents, including one who wore a T-shirt, signed a Diamondback's office and shouted into the trading room. They ordered about 60 employees to stop work immediately and escorted them into the conference room for about an hour.
Meanwhile, witness the search which is also the agent carrying five employees saw cardboard boxes from the building housing the Loch office and deposit them in a silver minivan.
By wagustian, okezone.com, Updated: 11/23/2010 10:38 AM
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