Hedge Fund News From HedgeCo.Net

Level Global and Diamondback Hedge Fund Managers Free on Bail

Bail-Bonds-Los-Angeles-39New York (HedgeCo.Net) – A New York judge has granted a request for hedge fund managers Anthony Chiasson, co-founder of hedge fund Level Global Investors, and Todd Newman, a former portfolio manager at hedge fund Diamondback Capital Management, to go free on bail. Chiasson and Newman seek to have their insider-trading convictions thrown out.

Chiasson and Newman were accused by prosecutors of taking part in a “criminal club” of finance professionals that used their connections to trade illegally.

Also charged by criminal authorities and sued by the SEC were Jesse Tortora, an analyst for Newman; Spyridon “Sam” Adondakis, an analyst for Chiasson; Danny Kuo, a vice president and fund manager at Whittier Trust Co.; Jon Horvath, a technology analyst at Sigma Capital Management; and Sandeep “Sandy” Goyal of mutual fund company Neuberger Berman Group LLC. All of those individuals have pled guilty and settled the SEC’s claims.

Level Global and Diamondback were also sued by the SEC. The firms settled for $21.5 million and $9 million, respectively.

Alex Akesson
For HedgeCo.net
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