Ex-Jefferies Money Manager Contorinis Is Indicted
by David Gloven, Bloomberg.com
Nov. 6 (Bloomberg) — Joseph Contorinis, a former money manager for the Jefferies Paragon Fund, was indicted by a federal grand jury on fraud charges in what prosecutors said was a $7.2 million insider-trading ring.
The indictment by the Manhattan grand jury follows Contorinis’s February arrest. Another person charged with him, Nicos Stephanou, who was an associate director of mergers and acquisitions at UBS AG’s London office, pleaded guilty in May to charges that he passed information about bids for Albertson’s Inc., the Boise, Idaho-based grocery store chain.
“Stephanou had access to and learned material information about merger and acquisition transactions,” the indictment says. “Stephanou provided Contorinis, and others known and unknown, with UBS insider information” from 2004 to 2006.
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