Jury Hears Alleged Insider Trader On Tape Discussing Tips

Law360, New York (August 7, 2012, 8:20 PM EDT) -- Jurors in the insider trading trial of Doug Whitman on Tuesday heard a tape recording of the hedge fund founder talking to an alleged co-conspirator about having advance access to a semiconductor company's financial figures.

Whitman was caught on tape saying that Marvell Technology Group Ltd. leaked like “a sieve,” and that he had easy access to its numbers ahead of earnings reports.

Prosecutors claim Whitman, who started California-based Whitman Capital LLC, made nearly $1 million trading on confidential information that came from sources at Marvell,...
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