Understatement of the day

Insider-Trading Suspect Smashed Evidence 

The U.S. opened a new front in a sprawling insider-trading case, unveiling criminal charges against two former hedge-fund managers at giant SAC Capital Advisors—one of whom allegedly ripped up his computer drives with pliers after reading a Wall Street Journal report on the probe late last year.

The fund manager who destroyed the computer gear later dumped the pieces in four separate garbage trucks around New York City the night the article ran, the criminal complaint says.

"When people frantically begin shredding sensitive documents and deleting computer files and smashing flash drives and chasing garbage trucks at 2 a.m. ... it is not because they have been operating legitimately," said Manhattan U.S. Attorney Preet Bharara.

 

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