Hedge Fund Chief Caught On Wiretap Discussing 'Illegal' Tips

Law360, New York (August 9, 2012, 7:44 PM EDT) -- Prosecutors trying accused insider trader Doug Whitman played a wiretap on Thursday in which the hedge fund founder seems to acknowledge that Google Inc. inside information he allegedly received broke the law.

FBI investigators caught Whitman, the founder of Whitman Capital LLC, telling a friend that he thought tips Roomy Khan received from a source connected with Google were illegal.

Khan has already testified that she passed Google tips to Whitman, who is charged with several counts of insider trading for allegedly trading on confidential information...
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