More Hedge Fund Raids - Credit Default Swaps
CDS is likely to be one of the main culprits of these new FBI raids. Look out consultants and advisors too.
Insider Trading -- covers a lot of ground (imo -- CDS and naked shorting both of shares and of bonds are very much linked).
Two Hedge Funds Raided In Insider Trading Probe
Published: Monday, 22 Nov 2010 | 1:07 PM ET Text Size By: CNBC.comDiggBuzz FacebookTwitter More Share
FBI agents raided the Connecticut offices of two hedge funds Monday as part of a broad insider trading investigation, the Wall Street Journal reported.
The two hedge funds, Diamondback Capital Management and Level Global Investors, are run by former managers of Steve Cohen's SAC Capital Advisors.
David Ganek, a former SAC trader, manages about $4 billion in assets through Level Global Investors. Diamondback Capital Management oversees more than $5 billion in assets, the Journal said, citing SEC filings.
Government authorities' probe into allegations of widespread insider trading fraud will likely involve consultancies, investment banks and trading firms, reported the Journal.
