Hedge Fund Manager Charged With Insider Trading Found Dead

Business Insider’s Rachel Levy reported that Sanjay Valvani, a Visium portfolio manager, left a suicide note as he was found dead after charges for insider trading were announced last week.

"Valvani, 44, turned himself in to authorities last week. He was charged with netting about $25 million for an unnamed investment firm using inside information on the pending approval of a generic drug," said Levy.
Total charges included:

• Accusations of Valvani committing securities and wire fraud from 2005 to 2011.
• Unlawful use of nonpublic information from the FDA about drug approvals and applications
• Passing nonpublic information to other portfolio managers at Visium, notably Christ Platford

Valvani worked with FDA official Gordon Johnston to gain insider information who, with Platford, pleaded guilty to the charges as well.