Deals
Clay Capital’s James Turner Pleads Guilty in Insider Case
This article is for subscribers only.
James F. Turner II, the chief investment officer of hedge fund Clay Capital Management LLC, pleaded guilty to his role in an insider-trading scheme that prosecutors said made more than $2.5 million in illicit profit.
Turner, 44, illegally traded in shares of Autodesk Inc., Moldflow Corp. and Salesforce.com Inc., he admitted in federal court in Newark, New Jersey. Clay Capital operated the Clay Fund from January 2007 to December 2010, according to a U.S. Securities and Exchange Commission complaint filed Aug. 31.