Barai Capital Management (BCM), founded by Samir Barai, has started closing its hedge funds, The Wall Street Journal reports. The hedge-fund firm was raided by the Federal Bureau of Investigation agents in November 2010 regarding an alleged insider trading probe.
Prosecutors have not disclosed any charges of wrongdoing against Barai or BCM. Barai set up his firm after managing a technology-stock portfolio within Citigroup’s internal hedge fund division.
Click here for the story from The Wall Street Journal.
Click here for the additional coverage from Bloomberg.