US prosecutors have charged four hedge fund employees with insider trading in a widening probe into illegal sharing of information on Wall Street.
Charges against two of the portfolio managers include obstruction of justice, federal prosecutors in Manhattan said on Tuesday.
Among the four charged are Samir Barai, 39, who runs hedge fund Barai Capital, and Donald Longueuil, 34, a former employee of SAC Capital Advisors. Mr Barai surrendered at 9am on Tuesday in New York, according to officials. Mr Longueuil was arrested at his Manhattan home. Also charged were Noah Freeman, 35, a former employee of SAC and Sonar Capital Management, and Jason Pflaum, 37, a former technology analyst at Barai. Mr Freeman and Mr Pflaum have both pleaded guilty and are co-operating with the FBI.