Attorney General Confirms Criminal Investigation into Wall Street Firms

Posted on November 30, 2010 by Fred Rivera

At a November 29, 2010 press conference, Attorney General Eric Holder confirmed that Preet Bharara,  U.S. Attorney for the South District of New York, is leading a "very serious" criminal probe into Wall Street firms.  While Holder declined to provide details, the announcement is on the heals of a November 22 FBI search at three hedge funds purportedly seeking evidence related to an insider trading investigation.   The investigators searched the offices of Diamondback Capital Management LLC, Level Global Investors LP and Loch Capital Management LLC.  FBI spokesman James Margolin said the Bureau was “conducting searches as part of an ongoing investigation.”

Read more at Law360 ; Bloomberg.

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