A former manager at hedge fund FrontPoint Partners LLC has been charged with insider trading, accused of showering a French doctor with cash and a luxury trip to New York in exchange for secret details on a biotechnology company. Joseph "Chip" Skowron, who ran FrontPoint's healthcare funds, was expected to appear later Wednesday in federal court on criminal securities fraud and conspiracy charges. The FBI said he surrendered Wednesday morning in Manhattan. The Connecticut man is one of the most prominent traders to become embroiled in a crackdown on illegal stock tips solicited from consultants working for so-called expert network firms, which help hedge funds get information about public companies in areas such as medicine and technology. The case, which began with the arrest last year of the French doctor, has been a huge blow to FrontPoint, forcing it to shutter Skowron's $1.5 billion funds. FrontPoint has not been accused of wrongdoing.
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