Thursday, November 5, 2009

Fourteen Charged By FBI for Hedge Fund Insider Trading

Update: The FBI has confirmed to CNBC that 7 people are in custody after being arrested in connection with an ongoing probe of insider trading in the hedge fund industry. The FBI says those arrested are employees of Galleon, Schottenfeld Group, law firm Ropes & Gray, and Incremental Capital.

A press conference is expected where it will be announced that the filing of criminal charges against 14 individuals has taken place.

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