Sun, Nov 19, 2017
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. Middle East - Saudi-Iran war would create this domino effect of global disaster, Saudi billionaires said to move funds from region to escape asset freeze[more]

    Saudi-Iran war would create this domino effect of global disaster From CNBC.com: Events appear to be spinning out of control in the Middle East, and the threat a Saudi-Iranian war is looking increasingly credible. Make no mistake, an out and out conflict between the two nations would be

  2. Paradise Papers - Robert Mercer's effort to avoid taxes appears in Paradise Papers, Tycoon made $41m from 'people's fund', Oxford and Cambridge 'investing millions of pounds offshore', Paradise Papers reveal[more]

    Robert Mercer's effort to avoid taxes appears in Paradise Papers From Therealnews.com: The Guardian has reported that conservative billionaire and Trump backer Robert Mercer "appears as a director of eight Bermuda companies in the Paradise Papers," the trove of documents reviewed by the

  3. Wall Street hedge fund veteran hits highs with copycat tactics[more]

    From FNLondon.com: A Wall Street veteran who has made big returns for wealthy clients by piggybacking on the strategies of well-known hedge funds is taking his novel approach to stock-picking to institutional clients. Dixon Boardman, chief executive of $2.5bn fund of hedge funds Optima Fund Ma

  4. Launches - Eaton Vance, Oaktree to launch diversified credit NextShares fund, FIM launches Nordic AI-powered fund[more]

    Eaton Vance, Oaktree to launch diversified credit NextShares fund Eaton Vance Management, a subsidiary of Eaton Vance Corp., announced the expected mid-November launch of Eaton Vance Oaktree Diversified Credit NextShares, a new Eaton Vance-sponsored exchange-traded managed fund. Eaton Va

  5. Outlook - Gundlach's stock market warning comes true[more]

    From Bloomberg.com: Jeffrey Gundlach has been warning something's got to give. Based on the past two days, looks like we have our answer. Stocks fell around the world a second day and high-yield bonds headed for a fourth straight loss, resuming a historic correlation that the hedge fund manager on W