Charges in insider trading inquiry

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The Independent Online

Two hedge fund managers were arrested on insider trading charges in the US yesterday, while another portfolio manager and an analyst agreed to plead guilty in connection with the inquiry, the latest development in a broad investigation of hedge funds' trading activities.

The charges were announced by prosecutors investigating the ties between hedge funds and consultants for so-called expert networking firms that are accused of improperly leaking confidential corporate information to investors.

The latest charges involve a portfolio manager and an analyst who worked for the hedge fund titan SAC Capital Advisors. SAC has not been charged with any wrongdoing.