Level Global, Diamondback Capital, and Loch Capital raided by Feds

November 23rd, 2010
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As part of an insider trading probe, Federal investigators have recently raided the offices of several hedge fund managers, including Level Global Investors, Diamondback Capital Management and Loch Capital Management LLC. According to the Wall Street Journal, the authorities had warrants but the investigations are still ongoing.

Diamondback Capital is led by Larry Sapanski and Level Global Investors is led by David Ganek and Anthony Chiasson, all of whom were previously senior portfolio managers at Steven A. Cohen’s SAC Capital Advisors. No reports have indicated SAC Capital's potential involvement, but the firm has been subpoenaed.

As reported in January of this year, Loch Capital Management has been facing high redemptions due to the close friendship between its co-founders, Timothy and Todd McSweeney, and Steve Fortuna. Mr. Fortuna, who co-founded S2 Capital Management, pleaded guilty to charges related to the Galleon Management insider trading scandal.
For Detailed Investor Profiles on these Investors, click below:
Level Global Investors*
Loch Capital Management LLC
S2 Capital Management
Diamondback Capital Management
Diamondback Capital Management
Related People: Andrea Feinstein; Andrea Feinstein; Anthony Chiasson; Chad Loweth; Chad Loweth; David Ganek; Larry Sapanski; Larry Sapanski; Rich Schimel; Rich Schimel; Seth Buchalter; Steven Fortuna; Tim McSweeney; Todd McSweeney
Related Entities: Loch Capital Fund II; Diamondback Capital; Diamondback Capital; Diamondback Offshore Fund LP; Diamondback Offshore Fund LP; Loch Capital Fund Offshore LTD; Loch Dundonald hedge fund.; S2 Capital LLC; SAC Capital Advisors*; SAC Capital Advisors*; Stratix Asset Management*; Diamondback Partners LP; Diamondback Partners LP; Level Global Inc; Level Global LP; Level Global Overseas Master Fund; Level Global, LLC; Level Management LP; Loch Capital Fund I LP; S2 Capital Fund
Related Article Tags: Hedge Fund Fraud and Ponzi Scheme News

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