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Hedge Fund Manager To Plead Guilty

Law360 (January 2, 2006, 12:00 AM EST) -- Charged with insider trading, a Massachusetts hedge fund manager has decided to cut a deal with prosecutors and plead guilty to allegations stemming from his purchase of Charter One Financial Inc. stock after purportedly receiving a tip regarding the bank’s acquisition by Citizens Financial Group, Inc.

Michael Tom, who managed and co-owned a hedge fund called GTC Growth Fund in Burlington, Massachusetts, stands accused of five counts of insider trading, according to U.S. Attorney Michael Sullivan and Kenneth Kaiser, special agent in charge of the Federal...
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