Business Headline | Ex-Hedge Fund Trader Charged In $276M Insider Ploy

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Ex-Hedge Fund Trader Charged In $276M Insider Ploy

A former hedge fund portfolio manager was arrested Tuesday on charges that he helped deliver what a prosecutor said "what might be the most lucrative inside tip of all time," enabling investment advisers and their hedge funds to make more than $276 million in illegal profits. Martoma allegedly used information about an Alzheimer's drug trial, allowing his firm to reap a hefty profit.

Source: Ex-Hedge Fund Trader Charged In $276M Insider Ploy