Alleged Calif. tipster arrested in NY hedge case - FOX 10 News | fox10phoenix.com

Alleged Calif. tipster arrested in NY hedge case

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NEW YORK (AP) — Authorities have arrested an alleged tipster for embattled hedge fund SAC Capital Advisors.

Federal prosecutors in New York announced the securities fraud charges against analyst Sandeep Aggarwal on Tuesday. FBI agents arrested him Monday in San Jose, Calif.

The name of his attorney was not immediately available.

A criminal complaint accuses Aggarwal of providing inside information about a deal between Microsoft and Yahoo to SAC Capitol portfolio manager Richard Lee.

Lee has pleaded guilty. He's cooperating in an insider trading investigation that resulted in criminal charges against SAC Capital.

Steven Cohen, the billionaire founder of the firm, has not been charged.

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