Seven men were charged with fraud and conspiracy last week after federal authorities discovered illegal insider trading had netted nearly $62 million for several New York investment firms. According to reports from federal investigators, a former Dell Incorporated employee allegedly fed information about upcoming company announcements to analysts and executives at Level Global Investments, LP and at least two other unnamed hedge funds in 2008 and 2009. During that time period, a single stock was traded multiple times, netting illegal profits of $57 million for Level Global Investments, $3.8 million for the second hedge fund, and $1 million at the third hedge fund. The illegal trading tips also prevented a loss of $78,000 at an investment firm. Sandeep Goyal is said to have been a Dell, Inc. employee from 2006 to 2007 before he moved to New York City to work as an associate analyst at a global investment firm. Goyal reportedly was given information from an emplooyee in Dell's Investor Relations department from 2007 through 2009. An unnamed multi-billion dollar hedge fund reportedly paid Goyal $175,000 for his inside information in 2009. According to federal investigators, three analysts at various hedge funds have already pleaded guilty to conspiracy to commit securities fraud and were aiding investigators with the case. Another four men were arrested last week, including Anthony Chiasson, the founder of Level Global Investments.

As any experienced Los Angeles Federal Criminal Defense Attorney can explain, while sharing information about corporate investments may sound innocuous, it can actually be a criminal offense that can land you in a federal prison for several years. If you are facing federal criminal charges such as securities fraud (also known as insider trading), you need an experienced and qualified Los Angeles Federal Criminal Defense Attorney right away, and not just any attorney will do. Your Los Angeles Federal Criminal Attorney must be licensed to handle cases at the federal level, not just local or state. At Kestenbaum, Eisner & Gorin, LLP, our attorneys not only have the benefit of 50 years of combined experience in defending people against criminal charges of all types, but are also properly licensed to handle federal criminal cases. An experienced Los Angeles Federal Criminal Defense Attorney can tell you that crimes become federal crimes either when they are committed on federal property, or violate a federal law, such as those that regulate the stock market and securities trading. If you are facing federal criminal charges, call the offices of Kestenbaum, Eisner & Gorin, LLP today at 1-877-781-1570 to speak to an experienced and qualified Los Angeles Federal Criminal Defense Attorney about your case right away. Our attorneys know that the best defense is one that starts early and is aggressive. Our firm also employs our very own private investigator to find as much evidence in your favor as possible. Call today to begin preparing your defense.