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The former SAC Capital Advisors portfolio manager was convicted Thursday of helping his company earn more than a quarter billion dollars illegally through trades based on secrets about the testing of a potential breakthrough Alzheimer's drug.
An "avalanche of evidence" points to the guilt of a former SAC Capital Advisors hedge fund portfolio manager charged with using inside information to earn his company over a quarter of a billion dollars, a prosecutor told a jury Monday.
NEW YORK (AP) — A former SAC Capital Advisors portfolio manager got inside information about an Alzheimer's drug trial and made a pivotal phone call to his billionaire boss a day before the hedge fund began dumping more than $700 million in pharmaceutical stocks, a prosecutor told a jury Friday in opening statements at the trader's criminal trial.
A former hedge fund portfolio manager was arrested Tuesday on charges that he helped carry out the most lucrative insider trading scheme in U. S. history, enabling investment advisers and their hedge funds to make more than $276 million in illegal profits.
A former hedge fund portfolio manager was arrested Tuesday in what prosecutors called perhaps the most lucrative insider trading scheme of all time _ an arrangement to obtain secret, advance results of tests on an experimental Alzheimer's drug that netted more than $276 million for his fund and others.