Fri, Oct 31, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Update: Alleged SAC tipster Sandeep Aggarwal arrested

Wednesday, July 31, 2013

Komfie Manalo, Opalesque Asia:

The alleged tipster to SAC Capital about a major deal between Microsoft and Yahoo was arrested yesterday by U.S. Federal authorities, various media reported.

Forty-year-old Sandeep Aggarwal, a financial analyst from Gurgaon, India, was arrested in San Jose, California by authorities and charged with securities fraud, as government prosecutors close the noose on the $15bn hedge fund firm SAC Capital and its owner, hedge fund manager Steven Cohen, reported Seattle Times.

Wiretap evidence that was part of the criminal complaint unsealed on Tuesday overheard Aggarwal giving SAC portfolio manager Richard Lee inside information about a pending search-advertising partnership between Microsoft and Yahoo in 2009.

The complaint quoted Aggarwal as telling Lee of "a senior guy at Microsoft" who gave him accurate information regarding between a meeting with senior Microsoft officials and Yahoo executives about the impending deal and that an announcement would be made public in two weeks time.

The report accused Aggarwal of speaking to nearly 14 traders and portfolio managers at different hedge funds about the agreement.

In a statement, New York U.S. Attorney Preet Bharara said Aggarwal, who used to work at Collins Stewart LLC in San Francisco, was charged with one count of conspiracy to commit securities fraud and one coun......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Macks aim to raise $750m for real estate debt fund[more]

    From Therealdeal.com: Father-son duo William and Richard Mack and former Blackstone Group managing director Peter Sotoloff are starting a new real estate debt fund. Together, the trio hopes to raise more than $750 million for the private equity fund, according to the Wall Street Journal. The fund wi

  2. Commodities - Oil wreaking havoc on small-cap energy stocks sliding 36%[more]

    From Bloomberg.com: Owning almost anything in the U.S. stock market has been a losing proposition since September. Owning smaller energy companies has been a catastrophe. Hercules Offshore Inc. and Resolute Energy Corp. are among 19 oil-and-gas equities in the Russell 2000 Index that lost more than

  3. Investing - Hedge funds favor equity long/short, Strategic bond managers hedge against further high yield sell-off[more]

    Hedge funds favor equity long/short From Securitieslendingtimes.com: Equity long/short strategies will generate good returns for hedge funds in the future, according to a panel at this year’s Risk Management Association Conference on Securities Lending in Naples, Florida. Panellists Sand

  4. Legal - Ex-hedge fund analyst weeps as judge hands down 5 year sentence, Former Columbus investment manager Steven P. Moore indicted on theft charges, SEBI confirms ban for Hong Kong hedge fund, SEC announces enforcement action against compliance officer[more]

    Ex-hedge fund analyst weeps as judge hands down 5 year sentence From Hereisthecity.com: An ex-hedge fund analyst was sentenced to 5 years in prison for his role in insider-trading scheme. The New York Post reports that former hedge fund analyst Matthew Teeple was sentenced Thursday to fiv

  5. Manager Profile - Seth Klarman: Lessons for retail and institutional investors[more]

    From Valuewalk.com: Seth Klarman is virtually unknown outside value circles, despite his impressive record and value of assets under management. On average Baupost has returned 19% p.a. despite holding a large portion of its assets in cash. During the financial crisis, Seth Klarman’s funds lost some