Galleon Informer Hit Over $3M In UBS Insider Trades

Law360, New York (February 2, 2010, 6:31 PM EST) -- The U.S. Securities and Exchange Commission and federal prosecutors have accused Chelsey Capital portfolio manager David R. Slaine — reportedly a government informant in the Galleon Group case — of using insider information to net more than $3 million in trading profits.

Slaine used tips from a former UBS Securities LLC executive to trade ahead of upcoming UBS analyst recommendations for Chelsey and in his personal brokerage account, pulling in over $500,000, the SEC said in the U.S. District Court for the Southern District of New...
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