Mon, Aug 31, 2015
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. Investing - Hedge funds suddenly find real money is back in Argentina's debt, Elon Musk buys more SolarCity stock following hedge fund manager short, BlackRock plans to get into rental-home financing[more]

    Hedge funds suddenly find real money is back in Argentina's debt From Bloomberg.com: The real money is back in Argentina. Before the country’s default in July 2014 (its second in 13 years), most long-term investors abandoned its bond market. As they rushed out, Argentina became a favorit

  2. Activist News - Carl Icahn has snapped up a huge stake in Freeport-McMoRan, and the stock is ripping, Meet Europe's best activist investor[more]

    Carl Icahn has snapped up a huge stake in Freeport-McMoRan, and the stock is ripping From Businessinsider.com: Carl Icahn has picked his next target: Freeport-McMoRan. Icahn and a group of other investors have snapped up an 8.46% stake in mining company Freeport-McMoRan, according to a j

  3. North America - Hedge fund manager Ray Dalio’s challenge to the Fed[more]

    From Newyorker.com: For some reason, Janet Yellen, the chair of the Federal Reserve, decided to skip this year’s annual Fed conference in Jackson Hole, where monetary policymakers from the United States and abroad get together with some prominent academics to discuss the big issues of the moment. Th

  4. Opalesque Exclusive: Credit-focused hedge fund Numen Capital expects more volatility in Europe in coming months[more]

    Benedicte Gravrand, Opalesque Geneva: A London-based hedge fund, which has just hired two emerging managers, is cautious on Europe. Vassilis Paschopoulos and former Lehman’s colleague Nikos Kargadouris, launched a London-based credit-focused hedge fund called

  5. Performance - Hedge funds bruised by stocks’ meltdown, Capstone’s volatility hedge fund is having a monster month thanks to market mayhem[more]

    Hedge funds bruised by stocks’ meltdown From WSJ.com: Hedge-fund managers like to promise their investors protection from market swings. In the recent stock swoon, many were caught off guard. Billionaire managers such as Leon Cooperman, Raymond Dalio and Daniel Loeb are deeply in the red

 

banner