(Bloomberg) A jailed hedge-fund founder and the government’s star witness in the fraud trial of two embattled technology entrepreneurs said he kept his cooperation deal with U.S. prosecutors even after lying to them for years about the extent of his manipulative stock trading. Stephen Maiden confirmed during cross-examination on Friday that when he decided to cooperate with prosecutors in December 2014, he only admitted to manipulating shares in two companies, including the troubled video-software startup KIT Digital Inc. at the center of the case. In reality, he agreed that he’d been manipulating more than a dozen other stocks.
Jailed Hedge-Fund Founder Admits He Didn’t Reveal All to Prosecutors
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