Skip to content
Subscriber Only

U.S. Vows to Expand Insider Trading Probe as Fourth Ring Charged

The U.S. government vowed to continue its five-year investigation into insider trading on Wall Street as it charged a fourth ring of hedge-fund traders with using illegal information to make millions of dollars.

Seven analysts and portfolio managers were accused of securities fraud in the latest sweep, the Justice Department said yesterday. The charges included the first current employee of Steven Cohen’s $14 billion SAC Capital Advisors LP to be caught up in the probe, and the highest-profile manager to be arrested since Raj Rajaratnam was indicted in October 2009.