Sandeep Goyal, Spyridon Adondakis, Jesse Tortora Arrested for Alleged Insider Trading

LOS ANGELES (LALATE) – Sandeep Goyal, Spyridon Adondakis, and Jesse Tortora have been arrested for alleged insider trading. Sandeep Goyal (formerly with Dell Computers), Spyridon Adondakis (formerly of Level Global), and Jesse Tortora (f0rmerly of Diamondback Capital Management) were confirmed arrested in a news briefing to press moments ago.
Initial news reports anticipated four arrests would be announced today by prosecutors. But at a news conference midday today January 18, 2012, prosecutors indicated that seven persons have been arrested this week. Confirming a previous report on LALATE, prosecutors indicated to news the arrests also of Anthony Chiasson (Level Global Investors), Todd Newman (Diamondback Capital Management), and Jon Horvath (Sigma Capital Management).
Prosecutors claim that seven persons committed insider trading on Dell stock to allegedly turn a sixty-two million dollar profit. Investigators today called the seven persons the “Perfect Hedge”.
Officials claim that trades were of Dell’s stock (NASDAQ: DELL). Allegedly, the individuals made trades in advance of first and second quarter Dell earnings in 2008. Those two periods reaped Chiasson and Newman allegedly $57 million and then $3.8 million in profits, prosecutors claim.
The name of the seventh person has not been released to news. But the individual was arrested earlier today in Los Angeles, officials claimed. The defendants have yet to comment about the charges.











