Fund Managers Called Links in ‘Corrupt Chain’ by U.S. Prosecutor
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A U.S. prosecutor told a jury that Level Global Investors LP co-founder Anthony Chiasson and former Diamondback Capital Management LLC portfolio manager Todd Newman made more than $70 million on trades based on illicit tips from analysts who worked for them.
Assistant U.S. Attorney Antonia Apps began making the prosecution’s closing arguments yesterday in Manhattan, where Newman and Chiasson have been on trial since Nov. 7, accused of exploiting inside information about technology companies such as Dell Inc. and Nvidia Corp. They have pleaded not guilty.