(Reuters) A federal prosecutor said a political consultant used his Washington contacts as his “secret sauce” to uncover market-moving tips about policy decisions from a U.S. healthcare agency, enabling a big New York hedge fund firm to conduct insider trading.
The comment by Assistant U.S. Attorney Joshua Naftalis in Manhattan federal court came on Monday as an insider trading trial got underway. All four defendants have pleaded not guilty, over the passing of “political intelligence” to Wall Street from inside the Beltway.
