On Stand, Hedge Fund Founder Denies Trading On Inside Info

Law360, New York (August 13, 2012, 8:32 PM EDT) -- Hedge fund founder Doug Whitman took the stand Monday to defend himself against insider trading charges, telling jurors he did not trade on improper information.

Whitman, the founder of California-based Whitman Capital LLC, said his fund made its only analysis and did not use any tips from government cooperator and former Galleon Group LLC employee Roomy Khan to make about $362,000 around a January 2006 Polycom Inc. earnings announcement.

Whitman, 54, is accused of using tips from Khan and consultant Karl Motey to make about $900,000...
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