Alleged Hedge Fund Tipster Faces Full Wrath Of Preet Bharara

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Preet Bharara is a big-picture kind of guy. He’s won more than 80 insider-trading convictions. Sure, there’s the one that got away, mostly because the judge presiding was, in Preet’s considered opinion, a fucking idiot. And, sure, it hurt. Still does. But he’s not going to let that get him down. No. He’s going to start a new streak right now.

David Riley, Foundry’s former chief information officer, allegedly gave the tip about the 2008 deal to a former colleague, Matthew Teeple, who had gone to work as an analyst for a San Francisco hedge fund. Teeple then shared the information with other friends and his hedge fund, prosecutors said….

“When David Riley and Matthew Teeple chose to traffic in inside information involving high-tech companies, they embarked on a high-stakes game that has repeatedly proven to be unwinnable,” Bharara said when he announced the case last year.

Hedge Fund Profit on Brocade Deal Spurs Insider Trial [Bloomberg]

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