Four found guilty in insider trading case linked to U.S. health agency
NEW YORK (Reuters) - Two partners at the hedge fund Deerfield Management and two others were found guilty on Thursday of charges stemming from what prosecutors have described as an insider trading scheme based on leaks from within a federal healthcare agency.
|Assistant US Attorney Joshua Naftalis presents case to jury|
Rob Olan and Ted Huber, partners at Deerfield Management who are on leave, were convicted of counts including wire fraud, securities fraud and conversion of government property, as was David Blaszczak, founder of political consulting firm Precipio Health Strategies.
Christopher Worrall, who worked for the U.S. Centers for Medicare and Medicaid Services (CMS), was also convicted of wire fraud and conversion of government property, but acquitted of securities fraud. The verdict was handed down by a jury in Manhattan federal court after nearly four days of deliberations, following a four-week trial.