Diamondback, the hedge fund founded by former SAC Capital portfolio managers Richard Schimel and Larry Sapanski, has been at the centre of the insider trading probe since November, when it was raided by the FBI.
Until now, there has been little known about the FBI’s interest in Diamondback.
But it turns out their target is a man called Todd Newman, one of the firm’s tech portfolio managers, according to Reuters.
Newman, who lives in Boston, was apparently put on leave after the hedge fund’s Connecticut offices were stormed by the feds on November 22nd.
Newman joined Diamondback in 2006, after working as a tech stock analyst in Boston with Paul Tudor Jones’ Tudor Investments. The man remains a bit of an enigma.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.