Legal News

Level Global’s Chiasson May Get 10 Years for Inside Trading
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)

Former SAC Capital employees continue to be found guilty of insider trading, as when in December Anthony Chiasson was convicted of securities fraud and conspiracy. Sentencing is coming up, and federal prosecutors want as much as 10 years for the man. In fact, Chiasson is being threatened with 97 to 121 months behind bar; sentencing will be on May 13 by U.S. District Judge Richard Sullivan.

That, at least, is shorter than the pre-sentence report a probation officer made for 10 to 12-1/12 years, according to Reuters.


Chiasson was charged after his hedge fund firm, Level Global Investors LP, was raided by the FBI and found to be not exactly on the level. The office closed up shortly after that, and seven people were charged with conspiracy. They were using inside information from Dell, and at one point Chiasson used inside information to bet against Dell and procure in a single trade more than $50 million dollars.

5 of the 7 conspirators confessed, leaving Chiasson as one of the two to maintain his innocence, his former employee, research analyst Spyridon “Sam” Adondakis gave the most damning testimony against his boss, without which the case perhaps could not have been given a guilty verdict. There wasn’t much as far as wire tapping to use as evidence, only a scattered bit of texting and emails – the conspiracy was tight and didn’t leave any smoking guns.

“With today’s guilty verdicts, Todd Newman [the other conspirator who pled innocent] and Anthony Chiasson join the ranks of high-level investment fund managers who are being made to answer for their extraordinary bad risk-reward analysis about what is right and what is is wrong,” said Preet Bharara, the United States attorney in Manhattan, as reported by Dealb%k.

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!

Chiasson’s lawyers meanwhile are hoping the sentence will be lenient on the grounds that he has a wife and two children, and also was philanthropic with his money.


Interesting Legal Sites You May Like




Search Now

Litigator with 5-10 years of general insurance defense experience

USA-FL-West Palm Beach

Boutique litigation firm is looking for an experienced litigator with 5-10 years of general insuranc...

Apply Now

Transactional Real Estate Attorney with 4-10 years of experience

USA-CA-San Diego

San Diego office is seeking a transactional real estate attorney with 4-10 years of experience.

Apply Now

Real Estate/Business Transaction Attorney with 8+ years of experience


Seattle office is seeking a real estate & business transaction attorney with 8+ years of experience....

Apply Now

Litigation Attorney with 2-5 years of insurance coverage experience


Towson office of our client seeks litigation attorney with 2-5 years of business, insurance coverage...

Apply Now


Contract Attorney

USA-CA-Beverly Hills

We are looking for a civil business litigator with 3+ years of experience who is capable of attendin...

Apply now


USA-CA-San Francisco

As an in-house legal counsel at Wix’s legal department, you will play a significant role in de...

Apply now

Experienced Insurance Defense Attorney Needed


Defense Negligence firm with offices in Nassau County and main office in Suffolk County seeks a full...

Apply now


USA-MO-Kansas City

Successful, expanding KC personal injury law firm seeks an attorney with 5+ years personal injury li...

Apply now

Most Popular


To Top