FBI Raids 3 Hedge Funds In Securities Probe

Law360, New York (November 22, 2010, 5:59 PM EST) -- FBI agents reportedly raided the offices of three hedge funds on Monday, searching for evidence related to a sweeping insider trading investigation run by U.S. Attorney for the Southern District of New York Preet Bharara.

The investigators searched the offices of Diamondback Capital Management LLC, Level Global Investors LP and Loch Capital Management LLC, and FBI spokesman James Margolin said they were “conducting searches as part of an ongoing investigation.”

Margolin would only confirm that the agents executed search warrants at specific addresses that “happen to...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.