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Benedicte Gravrand, Opalesque London:

A hedge fund manager connected with an insider trading case has apparently committed suicide.

Sanjay Valvani, 44, a hedge fund manager at New York-based Visium Asset Management, was found dead in an apparent suicide on 21 June in his Brooklyn residence, Reuters reported. The police recovered a knife and a suicide note.

Valvani, who had been with the firm since it was founded in 2005, ran a share of its flagship fund, the Visium Balanced Fund.

He was arrested on 15 June and then released on a $5m bond.

Federal investigators suspected that Valvani was paying a former Food and Drug Administration (FDA) official to tap a colleague who still worked there for an inside line on generic drug approval, according to Chicago Tribune. While the former FDA official, Gordon Johnston, pleaded guilty on 13 June, Valvani denied the allegations.

When Visium Asset Management, an equity-focused alternative investment firm with $7bn in assets, became the target of the insider trading investigation, investigators also found some ma......................

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