Ex-Hedge Funder Pleads Guilty To Fraud

Business Week :

A former hedge fund trader has pleaded guilty to criminal charges involving a scheme to trade on inside information about analysts' ratings changes at UBS AG's securities unit before the changes became public knowledge.

Mark E. Lenowitz, who formerly traded equity securities on behalf of Chelsey Capital in New York and was a partner at Q Capital Investment Partners LP in New Jersey, entered his plea to one count of conspiracy and one count of securities fraud at a hearing Tuesday before U.S. District Judge Sidney H. Stein in Manhattan.

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