Former Frontpoint Trader Chip Skowron Gets His Day In Court


Reutersreports that Chip Skowran, the Frontpoint Partners employee who received tips from French doctor Yves Benhamou about Hepatitis C last year, surrendered to authorities this morning and is expected to show up in court today to discuss insider trading charges.

Benhamou's information to Skowran didn't make Frontpoint any money, but allegedly helped it avoid losing $30 million by a timely sale of six million shares of drug maker Human Genome Sciences. (It also may have had something to do with investors redeeming en masse shortly thereafter and the shuttering of the fund.)