Visium's Valvani dead in apparent suicide
[NEW YORK] Sanjay Valvani, the Visium Asset Management hedge fund money manager charged with insider trading last week, was found dead this morning in an apparent suicide, Dow Jones reported, citing sources it didn't identify.
Jonathan Gasthalter, a spokesman for Visium, wasn't available to comment. Calls to Valvani's home went unanswered.
According to the federal indictment last week, Valvani, 44, hired a consultant to get information about the approval status of a generic drug. Valvani is accused of using the information to trade in stocks, and passing the information to Chris Plaford, who oversaw the credit fund, prosecutors said.
Visium is the biggest hedge fund in the industry to have employees linked to criminal wrongdoing since the government set its sights on billionaire Steve Cohen's SAC Capital Advisors. That firm pleaded guilty to federal insider-trading charges in 2013, agreed to pay US$1.8 billion and was forced to shut its doors.
BLOOMBERG
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Malaysia set to extend rate pause as ringgit outperforms peers
Singapore moves to boost law to hunt and prosecute money launderers
Manulife profit beats on growth in Asia, wealth management
Robinhood beats profit estimates on interest income strength
Prudential shutters Hong Kong wealth unit Pulse
JPMorgan, Nomura limit Segantii exposure on Hong Kong case