Whitman Capital Founder Traded on Inside Tips, U.S. Says
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Doug Whitman, the founder of Whitman Capital LLC, made almost $1 million for his hedge fund by trading on inside tips about Google Inc., Polycom Inc. and Marvell Technology Group Ltd., a prosecutor told jurors.
“The defendant and his partners in crime decided the rules of stock trading did not apply,” Assistant U.S. Attorney Christopher LaVigne said yesterday in his opening statement in the insider-trading trial in Manhattan federal court.