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Alternative Market Briefing

Former hedge fund analyst Thomas Hardin evades prison for his cooperation

Thursday, February 26, 2015

Komfie Manalo, Opalesque Asia:

One-time mystery informant Thomas Hardin, also known as confidential informant working for the Federal Bureau of Investigation Tipper X, avoided prison terms after a U.S. court cited his "extraordinary" cooperation for his crucial role in helping authorities build cases involving Galleon Group LLC co-founder Raj Rajaratnam and SAC Capital Advisors LP.

Judge Laura T. Swain of Federal District Court in Manhattan said the 37-year-old Hardin provided consistent quality information to investigators that "contributed in significant part to dozens of insider-trading convictions," reported Bloomberg. Hardin wore a wire and made dozens of taped calls to help the government build a major insider trading case.

Hardin addressed Swain minutes before his scheduled sentencing, "The past six years have been the most shameful and most difficult of my life. The actions that brought me here today were selfish and inexcusable. I am deeply sorry for the mistakes I’ve made and I am deeply humbled and ashamed. I hope your honor can see that I’ve left my old life behind."

Swain took note of Hardin’s role in the government’s conviction of insider trading cases and spared the former hedge fund analyst prison time.

Swain was quoted as saying, "His reaction has had profound implications for law enforcement. His c......................

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