It is not an unusual thing for fund managers or traders of hedge funds to get caught up in insider trading. However, the same cannot be said for instances outside the purview of the SEC.
In the current quarter, there have been at least three legal incidents involving hedge fund traders/managers outside the expected legal pitfalls, causing concern among hedge fund operators as they continually search for knowledgeable talent.
Related Link: How Knowing The Difference Between Effective And Marginal Tax Rates Will Change The Way You Listen To Politicians
Recent Legal Issues
July 6: Mark Crumpacker, an executive from Chipotle Mexican Grill, Inc. CMG, was charged on cocaine possession during police crackdown operations in New York.Over the weekend, hedge fund executive Sahm Adrangiwas (Kerrisdale Capital Management) was caught on charges of alleged drunk driving and possession of cocaine following a crash.July 19: A former executive of Moore Capital Management, Brett Barna, was dismissed from his position following a big party in the Hamptons on a report that the landlord of the property where the party was held was planning legal action against the executive. The landlord's case alleges that Barna hosted 1,000 guests without permission, who subsequently damaged the furniture, yard and pool. Art was also reported as stolen from the residence during the event.Do you have ideas for articles/interviews you'd like to see more of on Benzinga? Please email feedback@benzinga.com with your best article ideas. One person will be randomly selected to win a $20 Amazon gift card!© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
