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Preet Bharara Destroyed Level Global Investors To Get Steve Cohen: Level Global Founder

Let him explain.
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Looking for Steve in all the wrong places?

At least it's one interpretation that you could draw from Level Global co-founder David Ganek’s lawsuit against the Manhattan U.S.A., since the agents combing through the hedge fund’s offices back in 2010 made damned sure to leave with a folder labeled “S/A/C/ Correspondence.” The only problem was that Preet and his buddies at the FBI basically had to lie about Ganek to get the search warrant, according to Ganek.

Mr. Ganek’s lawsuit contends that the warrant supporting the raid “falsely represented” that he was involved in insider trading. The lawsuit cited the courtroom testimony of the Level Global analyst, who never implicated Mr. Ganek, the lawsuit said. And the government never charged Mr. Ganek, though they labeled him an “unindicted co-conspirator.”

Also: That wasn’t the only problem, since, you know, the raid led to Level Global’s downfall and to the (to date) wrongful conviction of Ganek’s co-founder, Anthony Chiasson. Oh, yea, and they never did really get that Cohen guy, did they?

Ganek claims the Federal Bureau of Investigation and prosecutors fabricated evidence against him and ignored the “catastrophic risk” that news of the November 2010 search would cause. Level Global closed the following February.

SAC Folder Seized by FBI in Fund Searches, Papers Show [Bloomberg]
Targeted by U.S. Prosecutor, Hedge Fund Fights Back [DealBook]


By United States Department of Justice ( [Public domain], via Wikimedia Commons

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