Hey, hedgies, better brush up on Preet Bharara’s CV and predilections. The U.S. Attorney for Manhattan is looking like the new Sheriff of Wall Street–-and he’s a Springsteen fan, to boot.
Bharara’s office, along with the FBI and the SEC, are closing in on an insider-trading case that could ensnare a wide swath of bankers, investor consultants, hedge funds and mutual-fund traders, The Wall Street Journal reported over the weekend.
Investigators in part are looking into the role played by the cottage industry of industry consultants and analysts who give hedge funds and mutual funds an in-depth look into industries.
The wide-ranging probe stemmed from Bharara’s focus on insider trading. Bharara may not be a household name, but he made his bones taking on organized crime in New York, and more recently has tackled investigations into Bernie Madoff, the Galleon insider trading probe and the arms merchant known as the “Merchant of Death.” Wall Street isn’t so tough by comparison.
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