Hedge Funds Prove Fertile Hunting Ground For Prosecutors

Law360, New York (January 18, 2012, 8:33 PM EST) -- Federal prosecutors fired another shot at hedge funds on Wednesday, ensnaring seven people in a high-profile insider trading case officials say illustrates the culture of greed that pervades the industry.

In the latest charges, prosecutors accuse seven people of operating an insider trading scheme that generated roughly $62 million in illegal profits using private information about Dell Inc. and Nvidia Corp. U.S. Attorney for the Southern District of New York Preet Bharara and the FBI have now charged 63 people with insider trading and netted 56...
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