Hedge Fund Chief May Regret Plea Talks At Insider Tips Trial
By Ian Thoms (July 30, 2012, 8:00 PM EDT) -- When he goes on trial in Manhattan on Tuesday, hedge fund founder Doug Whitman will argue he thought the information he got from technology company insiders was public, but experts say he will struggle to sell that story to jurors, given what he told prosecutors during earlier plea negotiations.
Whitman, the head of California-based Whitman Capital LLC, told prosecutors during two December 2010 proffer sessions with prosecutors that he had received inside information about Polycom Inc. and Google Inc., according to a government motion. Whitman is also accused of trading on inside information about Marvell Technology Group Ltd.
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