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A hedge fund manager at Visium surrenders to federal authorities

Portfolio manager Sanjay Valvani has turned himself in to the federal authorities. He used to work at Jacob Gottlieb's Visium Asset Management.

A hedge fund manager at Visium surrenders to federal authorities

Valvani and another former portfolio manager Stefan Lumiere, have been charged In Manhattan Federal Court.

The Southern District of New York said in a statement: "Hedge Fund Portfolio Manager Sanjay Valvani And Former Portfolio Manager Stefan Lumiere Charged In Manhattan Federal Court. Gordon Johnston, a Political Intelligence Consultant, and Christopher Plaford, a Former Hedge Fund Portfolio Manager,
Have Each Pled Guilty and Are Cooperating with the Government."

Valvani was charged with being involved in a scheme, from in or about 2005 through in or about January 2011, to convert United States property, to defraud the United States, and to commit securities fraud and wire fraud relating to VALVANI's agreement with GORDON JOHNSTON, a political intelligence consultant and former senior official at the Food and Drug Administration ("FDA").

He is also accused of unlawfully obtaining highly confidential and material nonpublic information from the FDA about the approval of the agency of pending generic drug applications and convert it to Valvani's use.