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Stories of Interest
- North Korean caught secretly mining bitcoin rival
- IPO Timelines Cut by 80% After SEC's Private Filing Decision
- How the Carried Interest Break Survived the Tax Bill
- FINRA: The Neutral Corner
- Coinbasex Says Buying and Selling Temporarily Disabled Amid Price Rout
- Bitcoin plunges by more than a third in a single day
- Goldman Is Setting Up a Cryptocurrency Trading Desk
- Jefferies Lets Employees Choose When to Receive Their Bonuses
- UBS Told to Pay $903K After Losing Retaliation Verdict
- BEWARE: Long Island Iced Tea Shares Soar After Changing Name to Long Blockchain
- Gary Cohn’s Last Laugh: Cashing Out on Trump’s Tax Plan
- E*Trade Lets Customers Trade in CBOE Bitcoin Futures
- Swiss Find Serious Shortcomings at JPMorgan in 1MDB Case
- Washington-based Investment Adviser and His Business Partner Charged in Multi-Million Dollar Scheme
- FINRA Board of Governors Meeting
- Cryptocurrency Market Now Doing Same Daily Volume as the NYSE
- Jailed Barclays Trader Must Pay $400,000 From Libor Profits
- Trump Asks ‘How’s Your 401(k)?’ But Most Voters Don’t Have One
- A Bitcoin Hedge Fund’s Return: 25,004% (That Wasn’t a Typo)
- Madoff Victims Near Full Recovery of Principal With Payout
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NEWSLETTERS & ALERTS
David Ganek Loses Bid to Sue Preet Bharara
The U.S. Second Circuit Court of Appeals dismissed the lawsuit brought by David Ganek against former U.S. Attorney Preet Bharara. Ganek, who founded the now-defunct Level Global hedge fund, claimed that federal investigators “fabricated evidence” in order to raid his offices in 2010, as part of Bharara’s large crackdown on insider trading.
The court determined that there was “probable cause” to search the full office based on statements made by former Level Global analyst, and government informant, Sam Adondakis. Based on allegations of insider trading at the firm, there was “at least a fair probability to think that [Ganek’s] office was among the LG premises where evidence of an insider trading scheme would be found,” the Second Circuit ruled Tuesday.
Level Global co-founder Anthony Chiasson was charged and convicted of insider trading but the conviction was overturned in 2014. Ganek was never charged, but the negative publicity from the raid - and the client redemption requests that followed - forced the firm to shut down in four months later. At the time of the raid, Level Global was managing $4 billion.