This is just too good to be true. Another hedge fund d-bag caught up in his own ridiculous deceptions. Orange jumpsuit please!
“In the latest victory for federal prosecutors cracking down on insider trading, a jury convicted a California hedge-fund manager who testified in his own defense and said his trades were based on legitimate research.
Doug Whitman, of Whitman Capital in Menlo Park, Calif., told jurors that he didn’t trade on confidential tips and refrained from trading when he thought he might have received inside information.
But he wasn’t able to overcome a series of secretly recorded telephone calls during which he is heard discussing “moles” and having a conversation about sending presents to the sources.”
Read full article by Chad Bray at the WSJ.com