I guess the jig is up. The US federal prosecutors have publicly identified former hedge-fund manager David Slaine as the government mole. According to the Wall Street Journal, Slaine wore a body wire for over a year!
Slaine continues to cooperate in the massive Galleon insider-trading case. He has pleaded guilty to charges of criminal conspiracy and securities fraud for having taken part in insider trading in 2007. The charges were set because of tips he got about the upcoming UBS analyst recommendations. Reports have spiraled on Slaine’s less than angelic ways: ratting friends out, fighting with bosses, and now serving as a mole. Needless to say, some people will be pretty peeved at the news.
Seven other defendants in the Galleon case have been brought up–Craig Drimal, Zvi Goffer, Jason Goldfarb, Arthur Cutillo, Emanuel Goffer, Michael Kimelman, and David Plate–all have pleaded innocence in the ongoing trial.
