Hedge Fund Insider Trading Alleged By Preet Bharara, SEC In ADT Corporation Bid

Hedge fund insider trading is once again in focus. Manhattan U.S. Attorney Preet Bharara has a target in sight: his office’s 77th insider trading conviction since 2009, an unmatched win percentage. The prey is a former hedge fund executive who, while apparently working for a well-known billionaire’s firm, viewed a warning not to privately trade on confidential information regarding a pending acquisition. He then used this information to generate nearly a 6,000% return on investment while appearing to obfuscate ownership of the trading account in question. Late this morning the U.S. Securities & Exchange Commission also announced charges in the case. Hedge fund…