Mystery Fourth Hedge Fund Based In New York Was Raided In November Before Diamondback, Level Global And Loch

Shadow Silhouette

A fourth hedge fund that is based in New York was raided by the feds in November in connection to the FBI insider trading probe Reuters says.

The firm was apparently raided before Diamondback, Level Global and Loch Capital were stormed by agents in November.

The identity of the hedge fund remains a mystery though.

All we know right now is that it is small fund.

Apparently whispers about a fourth hedge fund began to circulate when Winifred Jiau was arrested in December. In the FBI’s criminal complaint against her, it was revealed a federal judge signed a search warrant “on or about November 12, 2010” to seize some computers and tape recording devices at “hedge fund A,” and the only detail on the firm was that it was based in Manhattan.

That led people to think the hedge was in fact Level Global. But legal sources told Reuters that’s wrong because the raid allegedly happened before November 22, which is when the FBI raided Level Global.

Another oddity about the fact the fund name hasn’t been revealed is that, considering the fact there’s been no leaks, the firm may not have alerted investors to the fact it was blitzed by the feds. The other funds that were raided, for example, all sent out statements about their involvement – or lack thereof – in the probe.

Click here for a complete who’s who of the FBI’s insider trading investigation >

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.