The Resolution Law Group: SEC Charges Whittier Trust and Fund Manager in Insider Trading Investigation Into Expert Networks

The SEC charged a South Pasadena, Calif.-based wealth management company and a former fund manager with insider trading on non-public information about technology companies. The charges are the agency’s latest in its ongoing investigation into expert networks and hedge fund trading.
The SEC alleges that Whittier Trust Company and its fund manager participated in an insider trading scheme involving the securities of Dell, Nvidia Corporation, and Wind River Systems. The fund manager generated profits and avoided losses for funds he managed at Whittier Trust by trading on confidential information that he obtained from another Whittier Trust fund manager who he supervised. The other manager was charged by the SEC in January 2012 and is currently cooperating with the investigation.
Whittier Trust and the fund manager agreed to pay nearly $1.7 million to settle the charges.

“Time and again, [the fund manager] received what he knew was inside information from [the other manager] and traded on it to generate illicit gains for the funds he managed,” said Sanjay Wadhwa, Senior Associate Director of the SEC’s New York Regional Office. “Now, he and Whittier Trust join a long list of insider trading perpetrators who have been held accountable by the SEC for their transgressions.”

If you are the victim of Insider Trading or SEC Fraud, please do not hesitate to email or call the The Resolution Law Group (203) 542-7275 for a confidential, no obligation consultation.

Lender Litigation, Unlawful Foreclosure, Tarp Money, Mortgage Backed Securities, Derivitives Lawsuits, Insider Trading Lawsuit, SEC Settlements, Ponzi Scheme Lawsuits, Intentional Misrepresentation, Securitized Mortgage, Class Action Securities Lawsuit, Robo-Signing Lawsuit, Lost Equity Litigation, Mortgage Lender Fraud, FINRA Fraud Lawsuit, Suing Banks, Fraudulent Misrepresentation, Short Sale Fraud, Fraudulent Business Practices, Mortgage Litigation, Complex Tort Litigation, Injunctive Relief, MERS Fraud


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