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Ex-Primary Global Executive Fleishman Seeks New U.S. Trial

Oct. 27 (Bloomberg) -- Former Primary Global Research LLC executive James Fleishman, convicted of two counts of conspiracy in September as part of a U.S. crackdown on insider trading, is asking for the charges to be dismissed or for a new trial.

Fleishman was convicted Sept. 20 by a federal jury in Manhattan of helping pass confidential information to fund managers as part of an insider-trading scheme. Prosecutors said Fleishman obtained and passed confidential data from technology company employees who were moonlighting as consultants for Mountain View, California-based Primary Global. The secret tips were given to fund managers who paid Primary Global fees for consultation calls, prosecutors said.

Fleishman’s lawyer, Ethan Balogh, said in court papers filed yesterday that prosecutors failed to establish that any acts to further the conspiracy occurred in New York. Balogh also argued that Fleishman was improperly told that the only way he would be allowed to testify in his own defense was if he turned over to prosecutors diaries during a four-year period.

Testimony about a June 2009 meeting in Manhattan between Fleishman and Karl Motey, an independent consultant who was cooperating with the government and wearing a body wire, failed to establish that Fleishman had committed any wrongdoing during that meeting, Balogh said.

“The government failed to present sufficient evidence of venue in the Southern District of New York,” Balogh said in court papers.

Primary Global matches investors with specialists who provide insight into specific markets. Fleishman earned more than $800,000 from 2008 to 2010, according to records shown by the U.S. Consultants were paid as much as $300 a call, with some earning as much as $200,000, the government said.

A spokeswoman for U.S. Attorney Preet Bharara in Manhattan couldn’t immediately be reached for comment.

The case is U.S. v. Nguyen, 11-cr-32, U.S. District Court, Southern District of New York (Manhattan).

To contact the reporter on this story: Patricia Hurtado in New York at

To contact the editor responsible for this story: Michael Hytha at

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