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Feds turn up heat on Wall St., raid 3 hedge funds

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Feds turn up heat on Wall St., raid 3 hedge funds

By The Associated Press

Tuesday, November 23rd, 2010 — 8:40 am

r266049431 300x223 Feds turn up heat on Wall St., raid 3 hedge funds
FBI raids 3 hedge fund offices in Conn., NY, Boston as feds turn up heat on Wall Street

Federal investigators have turned up the heat on Wall Street, raiding three hedge funds in what one of the targets called a wide-ranging probe of insider trading.

The FBI on Monday searched the New York offices of Level Global Investors LP, and the Stamford, Conn., headquarters of Diamondback Capital Management LLC, a law enforcement official said. The official spoke on condition of anonymity because he was not authorized to discuss an ongoing case.

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