Hedge Manager Goes on Offense in His Defense

Wall Street Journal, Wednesday, August 15, 2012

Hedge Manager Goes on Offense in His Defense, by Chad Bray

“In a bid to discredit the testimony of a key government witness, a Northern California hedge-fund manager accused of insider trading testified that he thought the informant, was lying when she said she had a secret source for Google Inc. in 2007…

Doug Whitman…testified on his own behalf for a second day Tuesday and disputed claims by Roomy Khan, a former technology-company employee and trader, that she shared confidential information with him about technology companies, including Google.  Mr. Whitman, who has pleaded not guilty to conspiracy and securities fraud, is the first person to take the stand in his or her own defense in the government’s recent broad crackdown on insider trading, which has resulted in more than 60 convictions…

As one of Mr. Whitman’s alleged sources, Ms. Khan is an important witness for the government.”

Mr. Whitman is defending himself against the government’s allegation that he committed a securities crime by going on the offense with his testimony.

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