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- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
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- SEC Fines Constant Contact, Popular Email Marketer, for Overstating Subscriber Numbers
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- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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NEWSLETTERS & ALERTS
Manager at One-Time $8Bn Hedge Fund Reportedly Found Guilty of Securities Fraud
Stefan Lumiere, once a portfolio manager at Visium Asset Management, a NY hedge fund that shuttered last year amid an insider trading scandal, was found guilty of federal securities fraud, according to a Bloomberg News report.
"Prosecutors said Lumiere solicited sham quotes from brokers to justify inflated valuations on distressed-debt holdings. Jurors rejected his claim that he thought the prices he was assigning were legitimate and done at the behest of his boss, who pleaded guilty and testified against him."
Lumiere is the ex-brother-in-law of Visium's founder, Jake Gottlieb, a physician who founded the firm, which became known for investing in healthcare stocks.
Sanjay Valvani, a star fund manager overseeing the firm's healthcare fund, committed suicide last year days after he was accused of insider trading. Gottlieb hasn't been accused of any wrongdoing.