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Menlo Park fund manager charged. Yes a few do get caught.

By MoneySheep   2012 Feb 10, 6:58am   1,630 views   5 comments   watch (0)   quote      

California Fund Manager Charged With Insider Trading -- A California hedge fund manager was charged with making illegal trades in Google and other technology stock, the latest person ensnared in the government's insider-trading crackdown. Douglas F. Whitman, the founder of Whitman Capital in Menlo Park, Calif., surrendered to the F.B.I. on Friday. Federal prosecutors accused him of using confidential information to trade in the shares of Google, Marvell Technology, and Polycom, netting $900,000 in illegal profits.

Sorry, the title was a typo. Correct one is "Menlo Park fund manager charged."

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1   Patrick   1823/1823 = 100% civil   2012 Feb 10, 7:04am  ↑ like (1)   ↓ dislike (1)   quote    

Pretty close to home. I live in Menlo Park. Don't know the guy though.

2   APOCALYPSEFUCKisShostikovitch     2012 Feb 10, 8:48am  ↑ like   ↓ dislike   quote    

What does it mean if he's not convicted and stuffed into a supermax to be dismembered by neonazi serial killers?

3   thomas.wong1986     2012 Feb 10, 9:38am  ↑ like   ↓ dislike   quote    

Oh.. its just a tip of the iceberg...several inside employees, part of a larger network, who had access --and no ethics-- feed the info outside.

Stanley Ng, a former finance manager at Marvell Technology, was arrested and charged with conspiracy to commit insider trading for allegedly providing secret corporate earnings information to an expert network consultant before the results were publicly announced.

Mr Ng, 42, was arrested by Federal Bureau of Investigation agents at his home in Cupertino, California, at about 6.30am on Wednesday local time without incident, the FBI said.

Sonny Nguyen, a former employee in Nvidia’s finance department, met Ms Jiau when they worked for Nvidia. Ms Jiau recruited Mr Nguyen to join her investment club. Mr Nguygen in turn recruited Mr Ng, who served as the Securities and Exchange Commission reporting manager at Nvidia, according to the criminal complaint.

Mr Nguyen named Mr Ng as a source of secret company information during Ms Jiau’s trial. Mr Nguyen pleaded guilty and is co-operating with the government.

In exchange for the information, it is claimed that Ms Jiau took the men to lunch at the Cheesecake Factory restaurant and passed secret information she learnt from other sources, according to the criminal complaint.

APOCALYPSEFUCK is Tony Manero says

What does it mean if he's not convicted and stuffed into a supermax to be dismembered by neonazi serial killers?

Im with you AF Tony!

4   B.A.C.A.H.     2012 Feb 10, 11:01am  ↑ like   ↓ dislike (1)   quote    

thomas.wong1986 says

Mr Ng, 42, was arrested by Federal Bureau of Investigation agents at his home in Cupertino, California

5   thomas.wong1986     2012 Feb 11, 6:26pm  ↑ like   ↓ dislike   quote    

B.A.C.A.H. says

Cupertino, California

Motive! Keeping up with rest of the Fortress residences.

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