The Hedge Fund Analyst Who Taunted The FBI As They Investigated Him Was Arrested For Insider Trading Last Night
by Staff Writer on February 17, 2012
By Linette Lopez
They arrested John Kinnucan, Bloomberg reports. Kinnucan was the analyst that taunted the FBI as they investigated him. He was at his home in Portland, Oregon.
Back in October of 2010, Kinnucan, a tech analyst for Broadband Research, was approached by the FBi AND asked to secretly tape his hedge fund clients for the FBI’s famous “Perfect Hedge” investigation. In an interview shortly after the incident, he told CNBC that he refused to cooperate with authorities.
Unfortunately for Kinnucan, the Feds had already tapped his phone and captured his conversations with Donald Longueuil, a former SAC portfolio manager, and Level Global Investors LP co-founder Anthony Chiasson.
You’ll remember Chiasson’s name as one in a group of arrests the FBI made last month.
Basically, Kinnucan was just waiting for the FBI to get him (he said that in his CNBC interview). He always maintained his innocence, telling reporters that he provided a service that was completely legal and “has nothing to do with ‘inside information’ and everything to do with a lot of hard work and insight.”
His message for FBI agents was less demure.
In an e-mail to his clients (from CNBC) he spoke sarcastically about declining the FBI’s request that he cooperate with their investigation: