The scene sent a chill through Wall Street and fueled some of the biggest insider trading convictions in a generation: F.B.I. agents marched into hedge fund offices in Manhattan, Connecticut and Boston and walked out carrying stacks of boxes marked “evidence.”
More than four years and many indictments later, the confidential warrant underpinning one of those headline-grabbing raids has come to light, at once offering new details on the evidence against some hedge fund suspects and the limitations of the inquiry into another fund executive.
The warrant’s release, which a judge ordered at the request of The New York Times, coincides with the unraveling of the criminal case against two hedge fund managers whose offices were raided and whose insider trading convictions were recently overturned. It also spotlights the government’s rare move to raid the large hedge funds, all of which have since gone out of business.
–
The affidavit also relies heavily on interviews the F.B.I. conducted with Spyridon Adondakis, a former employee of Level Global who had worked as an analyst for Mr. Chiasson. Mr. Adondakis, known as Sam, pleaded guilty to insider trading and later testified at the trial of Mr. Chiasson and Mr. Newman.
Go to Home Page »
