SEC charges 4 with insider trading

WASHINGTON (AP) — Federal regulators on Monday charged the co-founder of a New York hedge fund and three other individuals with insider trading, the latest action in what the government has called the biggest insider-trading case in U.S. history.

The Securities and Exchange Commission announced it filed a civil lawsuit against hedge fund Trivium Capital Management, its co-founder Robert Feinblatt and analyst Jeffrey Yokuty. The SEC also filed charges against Sunil Bhalla, a former senior executive of tech company Polycom, and Shammara Hussain, a former employee at a consulting firm that did work for Google. The agency said Bhalla and Hussain provided confidential information that enabled Feinblatt and Yokuty to make about $15 million from trading on the information.

So far the SEC has filed civil charges against 27 people and hedge funds in a wide-ranging probe of the Galleon group of hedge funds and its founder. The government says Galleon funds made about $69 million in illegal profits. Federal authorities have arrested 23 people on criminal charges in the case; 14 have pleaded guilty.

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