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.



Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access