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7 charged in $61M single-trade stock fraud case
Hedge fund boss among those charged in $61M single-trade stock fraud case in NYC
By The Associated Press

NEW YORK (AP) ' Prosecutors say seven people are charged in an insider trading scheme that netted more than $61.8 million in illegal profits based on trades of a single stock.

Two New York hedge fund executives and a Massachusetts man were among four charged in a criminal complaint in federal court in Manhattan.

Anthony Chiasson was among those charged with conspiracy to commit securities fraud and securities fraud. He surrendered to the FBI Wednesday morning. He's a co-founder of former hedge fund group Level Global Investors LP.

Jon Horvath was arrested at his New York City home. He's an employee of Sigma Capital Management, an affiliate of hedge fund SAC Capital Advisors in Manhattan.

Also charged was Todd Newman. An FBI spokesman says he was arrested in Needham, Mass.

Lawyers for the defendants couldn't immediately be reached for comment.

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