An investigation into Visium Asset Management, first reported on March 7, has yielded charges against three hedge fund managers, two charged with insider trading and a third charged with falsely inflating asset values to generate higher fund fees.
Visium employees charged in insider trading scheme
In an investor letter reviewed by ValueWalk in March, Visium said investigators “have requested information from several years ago regarding the valuation of certain securities in the firm’s credit fund which was closed in 2013. Additionally, they have requested information regarding the trading of certain securities, including the use of a consultant who stopped providing services to the firm in 2011.” Details are now known regarding these trades.
Also see Visium Q1 letter to investors
Both...
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