CA - A key cooperator aiding a major federal investigation into insider trading admitted this month to obtaining and selling confidential information about Marvell Technology Group Ltd. and other companies, according to documents unsealed in federal court.
The documents unsealed Thursday relate to Karl Motey, a California-based investment consultant, and they provide insight into how he was ensnared in the investigation and within months began to help authorities in their probe into the activities of analysts, hedge funds, mutual funds and investment bankers, among others. The extent of Mr. Motey's activity suggests that the insider-trading probe could expand in coming months. More arrests are expected next year. (more)
