Neuberger Berman has placed Fayad Abbasi, an analyst at the center of a federal insider-trading probe, on paid leave. However, a Neuberger Berman spokesperson told The Wall Street Journal that the company was unaware of Abbasi being named in the investigation
Also implicated are two executives, yet to be named, at hedge funds Diamondback Capital and Level Global Investors.
A year ago, the Federal Bureau of Investigation announced its probe into public employees sharing inside information with hedge and mutual funds. Level Global shut its doors shortly after, and Diamondback is cooperating with authorities.
-- This article first appeared on Money Management Executive.