Reuters: Choo Beng Lee Was Insider Trading While Working At SAC Capital

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From Matthew Goldstein:

Ali Far and Choo Beng Lee, the former hedge fund traders turned government informants in the Galleon insider trading case, have admitted to engaging in illegal insider trading for many years, according to their cooperation agreements.
In the case of Lee, the agreements suggest that he engaged in illegal insider trading while working at Steven Cohen's SAC Capital, the Connecticut-based hedge fund.
In the case of Lee, the alleged wrongful conduct dates back as far as 1994. In both cases, this would suggest the men engaged in insider trading while working at other hedge funds before setting up their own fund, Spherix Capital, in 2007.

Here is the relevant section of Lee's agreement (which, oddly, sounds like something we might write in referring to the mothership-- "a certain hedge fund located in Connecticut." Also, and this is surely a coincidence, we've been told SAC's president is out of the country until Monday. So, it falls to someone else-- YOU KNOW WHO YOU ARE-- to call us and defend a certain someone's honor):


Lee, Richard Choo-Beng Cooperation Agreement

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