CNBC reports that the FBI has arrested seven fourteen more people "in the hedge fund industry" for insider trading. No word who the individuals are. Obviously the suspense is killing us, so if you happened to see your boss being escorted out of the building in cuffs, or knows someone who knows someone who did, get in touch.
Update: The Journalnotes that the individuals were "primarily taken into custody in New York," with one person arrested in New Jersey and one in Connecticut.
Update II: Included in the arrests are employees of Galleon, the Schottenfeld Group, Incremental Capital and law firm Ropes & Gray.
Update III: Some names, from Bloomberg:
Craig Drimal, who according to court documents worked at Manhattan-based Galleon, wasn't an employee of the firm. Also arrested were Zvi Goffer, Arthur Cutillo, Jason Goldfarb, Emanuel Goffer, David Plate and Michael Kimelman. Charges against the men include conspiracy and fraud, according to documents filed in New York federal court. Names of the other seven defendants weren't immediately available.
Manhattan U.S. Attorney Preet Bharara scheduled a press conference for noon today in New York to announce the filing of charges against 14 individuals, including attorneys and "Wall Street professionals," for their alleged involvement in a $20 million insider trading scheme. James Margolin, a spokesman for the Federal Bureau of Investigation, said the Securities and Exchange Commission was also involved in the arrests.