Whitman Capital Founder Found Guilty of Insider Trading
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Whitman Capital LLC hedge fund founder Doug Whitman was convicted of insider trading following a trial in which he spent more than two days on the stand telling jurors he was innocent.
A jury in Manhattan federal court yesterday found Whitman, 54, guilty of two counts of conspiracy for trading on illegal tips about Polycom Inc. and Google Inc., and two counts of securities fraud for trading in Google, Polycom and Marvell Technology Group Ltd. Securities fraud carries a maximum sentence of as long as 20 years in prison.