Hedge-fund partner Sanjay Valvani apparently committed suicide: Report
Moneylife Digital Team 22 June 2016
Hedge-fund partner Sanjay Valvani, who was charged with insider trading last week, was found dead in what police are investigating as an apparent suicide, says a report from the Vanity Fair.
The news report quoting a spokesperson from the New York Police Department (NYPD) says police were called to his Brooklyn home on Monday night where they found a note and a knife near his body. He reportedly suffered a self-inflicted slash to his neck.
Last Wednesday, Valvani was arrested on charges of insider trading. A partner at Visium Asset Management, managing speciality pharmaceutical stocks portfolio, Valvani was accused of acting on early information about a generic drug application to the US Food and Drug Administration (FDA), a fraudulent move that allegedly made him $25 million.
Two days after the arrest of Valvani, his firm Visium, which, at its peak, managed $8 billion, said last week that it was liquidating four of its hedge funds and selling another to a competitor, the report from Vanity Fair added.
Free Helpline
Legal Credit