UBS and Blackstone Group takeover advisers fed information to an insider-trading ring including a former Jefferies Group money manager in a scheme that yielded more than $8m in illegal gains, US federal authorities said, reports Bloomberg. Nicos Stephanou, associate director of M&A at UBS’s London office, passed information about bids for Albertson’s, ElkCorp and National Health Investors, US prosecutors and the SEC said in criminal and civil complaints, while Ramesh Chakrapani, a managing director of Blackstone’s takeover advisory unit, allegedly leaked tips on two of the deals.

This entry was posted by Gwen Robinson on Friday, February 6th, 2009 at 5:21 and is filed under People. Tagged with blackstone, jefferies, ubs. Edit this entry.