From Bloomberg: Lawyers for Level Global Investors LP
co-founder Anthony Chiasson and ex-Diamondback Fund Manager Todd Newman rested
their cases after questioning an FBI agent who’s been central to the U.S.
crackdown on insider trading.
Chiasson and Newman have been on trial in Manhattan federal
court since Nov. 7, accused of trading on inside information in Dell Inc.
(DELL) and Nvidia Corp. (NVDA) They’re charged with securities fraud and
conspiracy. Prosecutors say the men, who pleaded not guilty, earned more than
$67 million on trades based on illicit tips provided by analysts who worked for
them.
Prosecutors also rested their case yesterday. U.S. District
Judge Richard Sullivan, who is presiding over the trial, told jurors to return
to court today to hear closing arguments from both sides….
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