NEW YORK (AP) — A money manager the government says set a record by making $50 million on a single trade based on inside information went on trial Tuesday as a prosecutor promised to take jurors “into the world of hedge funds.”

Anthony Chiasson, a co-founder at former hedge fund group Level Global Investors, is standing trial on insider trading charges along with Todd Newman, a Needham, Mass., hedge fund portfolio manager. Lawyers for the men said they did nothing wrong, relying on research conducted by analysts that the government now says were corrupt.