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The Securities and Exchange Commission awarded $1 million to a Southbury, Conn., couple for providing information and documents that forced hedge fund Pequot Capital Management and its ex-chief executive Arthur Samburg to pay $28 million to settle insider trading charges.
Glen Kaiser and Karen Kaiser provided the documents to the SEC after discovering them on a computer once used by Karen Kaiser's ex-husband David Zilkha, the SEC said in a statement last week.
Zilkha, a former Microsoft employee who accepted a job at Pequot, allegedly tipped Samburg about the software giant's earnings, enabling him to make trading profits of $14 million.
Samburg and Pequot reached a settlement with the SEC without admitting or denying guilt. Zilkha is still facing charges.
Before it closed down last year, Westport, Conn.-based Pequot had once been an active PIPE investor. The firm put at least $314.1 million into 94 private placements from 2001 through 2008.
Source: Press Release
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