Gasparino: "There Is An FBI Mole" Inside Level Global

Fox Business Network (FBN) Senior Correspondent Charlie Gasparino reports that Level Global is receiving “massive redemption requests” from customers including Cornell University and the hedge fund is “scrambling to prevent these redemptions from occurring.” Excerpts from the report can be found below, courtesy of Fox Business Network. On how the regulators are getting information on Level Global: “Regulatory sources tell the FOX Business Network there is an FBI mole working at the firm as well.” On Level Global clients asking for their money back: “FOX Business Network has learned they are fielding massive redemption requests and Cornell University is asking for its money back. Level Global is scrambling to prevent these redemptions from occurring. Level Global did comment that actual redemptions so far is less than 10%.” On whether hedge fund Level Global is a target of the insider trading probe: “Level Global has not been charged. It is under investigation like a lot of other places. But in the court of public opinion, they have been charged. A lot of eyes are on Level Global. Just today when you have the four arrests there was an expert witness arrested who dealt with Level Global.”