New York (HedgeCo.net) – The SEC probe of hedge fund insider trading has named Barai Capital Management LP’s founder and former hedge fund manager at Citigroup, Samir Bara, as a co-conspirator in a complaint against an ex-consultant for networking firm Primary Global LLC, Bloomberg reports today.
“In a Dec. 29 filing, the U.S. described two unidentified hedge fund portfolio managers at different firms who allegedly conspired with Jiau. The case is part of three overlapping probes stemming from the insider trading investigation of New York-based hedge fund Galleon Group LLC.” Bloomberg said. The source is said to have declined identification as the matter isn’t yet public.
The development broadens the known scope of inside trading probe because it is the first time a hedge fund manager has been publicly revealed as a co-conspirator in the case.
Editor for HedgeCo.net
HedgeCo.Net is a premier hedge fund database and community for qualified and accredited investors only. Membership in HedgeCo.net is FREE and EASY. We also offer FREE LISTINGS for Hedge Funds!