Hedge Fund News From HedgeCo.Net

Hedge Fund Fraud: FBI Looking To Twitter

New York (HedgeCo.Net) According to Reuters, “The FBI has agents scouring Twitter and other social networks for tips on securities fraud.” say agents overseeing a long-running investigation into insider trading in the $2 trillion hedge fund industry.

“I will tell you technology will play a huge part, social media, Twitter (etc).” a FBI special agent told Reuters TV in an interview for the Reuters Investment Outlook 2013 Summit. “Any kind of technology that is new….. if there is any way to exploit it, these individuals will.”

The FBI agent oversees what is called “Operation Perfect Hedge,” which has so far led to more than 60 convictions of hedge fund traders, analysts and industry consultants, according to Reuters.

Alex Akesson
Editor for HedgeCo.net
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