U.S. prosecutors have charged Samir Barai, an Indian-origin former hedge fund manager at Citigroup, with conspiracy to commit securities and wire fraud as part of a wide-ranging investigation into the country's biggest insider trading case.
Mr. Barai, also founder of New York-based $100 million Barai Capital Management, surrendered to the FBI on Tuesday. He has been charged with conspiracy to commit securities and wire fraud for his involvement in insider trading. Three others charged along with him by prosecutors in New York are Donald Longueuil, who formerly worked as a research analyst, Ason Pflaum, a former research analyst for Mr. Barai and Noah Freeman, a portfolio manager at a fund.
The charges are the latest in the U.S. government's biggest insider trading probe.
