Fund Manager Calls His Wiretap Remarks 'Jokes'

Law360, New York (August 14, 2012, 7:35 PM EDT) -- Fund founder Doug Whitman said Tuesday that he was being “jocular” when he was recorded discussing paying sources for confidential corporate information, continuing a bid to explain away insider trading charges against him.

Whitman, who founded hedge fund Whitman Capital LLC, took the stand in New York for a second day to counter wiretap evidence and cooperator testimony that prosecutors say ties him to illegal trading in Polycom Inc., Google Inc. and Marvell Technology Group Ltd.

One of arguably the most damning statements he made on...
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