Sponsored by: Investment Center

Something new in your business?  Click here to submit your business press release

Chamber Corner | Main Street News | Job Hunt | Classifieds | Calendar | Illinois Lottery 

Level Global paying $21.5M in SEC settlement

Send a link to a friend

[April 30, 2013]  WASHINGTON (AP) -- Level Global Investors, a hedge fund with a co-founder convicted of criminal insider trading, will pay $21.5 million to settle related civil charges.

The Securities and Exchange Commission announced the settlement Monday with Level Global over charges that co-founder Anthony Chiasson and a former firm analyst Spyridon "Sam" Adondakis illegally used confidential information to trade in Dell and Nvidia stock. Level Global, based in Greenwich, Conn., neither admitted nor denied the allegations.

The SEC said insider trading at Level Global occurred repeatedly in 2008 and 2009. The agency filed civil charges in January 2012 against the firm, Chiasson, Adondakis and six other defendants.

Chiasson was convicted of insider trading in December. Adondakis pleaded guilty to related criminal charges in April 2011. He settled the SEC charges.

[Associated Press]

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


< Recent articles

Back to top


News | Sports | Business | Rural Review | Teaching & Learning | Home and Family | Tourism | Obituaries

Community | Perspectives | Law & Courts | Leisure Time | Spiritual Life | Health & Fitness | Teen Scene
Calendar | Letters to the Editor