FBI Head: More Arrests Coming in Hedge Fund Insider Trading Investigation

Yesterday’s arrest and charges of insider trading by hedge fund employees and managers including Harvard Business School grad Sam Barai and Harvard College grad Noah Freeman, are just the beginning and more arrests are expected shortly based on a statement by Janice Fedarcyk, who heads the New York office of the FBI, that more rrets are coming. Barai, Freeman, Donald Longeuuil and others were charged with insider trading and conspiracy. U.S. Attorney Preet Bharara said that insider trading on Wall Street is rampant. The charges against the traders made yesterday stem from earlier arrests and the cooperation of eight employees or consultants of Primary Global LLC, a Mountain View California based firm that conects investors with employees of public companies who work as consultants. Sam Barai who headed Barai Capital received private information from Primary Global’s Anthony Longoria and Winifred Jiau both of whom were previously charged. “We’re far from finished,” Bharara said yesterday.