- Tue Jun 21, 2016 8:48 am
#73226
Hedge fund manager accused of insider trading found dead in apparent suicide. A manager at one of the biggest hedge funds facing insider trading accusations was found dead Monday night in an apparent suicide less than a week after prosecutors filed charges against him, police announced.
Sanjay Valvani, a 44-year-old partner and money manager at Visium Asset Management LP in New York City, was charged last Wednesday with five counts including securities fraud and conspiracy. Prosecutors said Valvani made at least $32 million from trades based on confidential tips about drug approvals. Valvani was also a venture partner with Chelsea Clinton's husband Marc Meszvinsky. Mezvinsky, a hedge-fund manager, recently shut down a Greek hedge fund after it lost 90 percent of its value, resulting in numerous investors losing millions. It's unclear at this time if Valvani had a partnership in the failed Greek hedge fund.
His wife found him with a wound to his neck at their home in Brooklyn, police told Reuters.
- By johnforbes