Accused Insider Trader Newman Goes Free On $3M Bond

Law360, New York (January 25, 2012, 7:52 PM EST) -- Todd Newman, the former Diamondback Capital Management LLC portfolio manager accused of participating in an alleged $62 million insider trading scheme, was released Wednesday on a $3 million bond.

Danny Kuo, until recently vice president and fund manager at Whittier Trust Co., also was allowed to remain free on $750,000 bond after he and Newman appeared in at a hearing in New York before U.S. Magistrate Judge Michael H. Dolinger.

Newman, Kuo and five others allegedly belonged to a group that New York's top prosecutor called...
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