Feds Charge FrontPoint Trader In $30M Inside Tips Case

Law360, New York (April 13, 2011, 2:51 PM EDT) -- Prosecutors in New York on Wednesday unveiled charges against an ex FrontPoint Partners LLC portfolio manager Joseph “Chip” Skowron alleging he avoided $30 million in losses by trading on inside tips about drug trials from a French doctor.

A criminal complaint against Skowron was unsealed in the U.S. District Court for the Southern District of New York on Wednesday, the same day the hedge fund firm manager surrendered to the FBI.

He was allowed to remain free on a $6 million bond approved by Magistrate Judge...
To view the full article, register now.