“Dipak Patel, a former SAC Capital portfolio manager, has been fingered by a mole, says the WSJ.
The undercover informant has told federal investigators that she passed confidential information to the trader for years.
Patel, who was a technology stock manager for Steve Cohen’s hedge fund, has yet to be charged with any wrongdoing. He left SAC Capital in 2010.
Investigators have been concentrating their efforts on SAC Capital in a big way for years. The heat has been especially intense since last November, when federal prosecutors wrote that SAC CEO Steve Cohen interacted with alleged insider trader, Mathew Martoma in a complaint. Six former SAC employees have been convicted of or pleaded guilty to insider trading since 2009.
If you enjoy the content at iBankCoin, please follow us on Twitter
