Calif. fund founder convicted of insider trading

Published



NEW YORK (AP) — A San Francisco hedge fund founder was convicted of insider trading charges Monday by a jury that rejected his claims that he was careful never to trade based on secrets he received about public companies.

Doug Whitman, whose hedge fund oversaw roughly $100 million, was convicted of all charges against him. Only days earlier, the Manhattan federal jury heard him testify that he took pains to trade only on legal information gleaned from employees at public companies and from analysts.

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