Sandeep Aggarwal, a former research analyst accused of giving inside tips about a Yahoo! and Microsoft venture to former SAC Capital Advisors LP fund manager Richard Lee, won release on a $500,000 bond.
Bloomberg News reports that Aggarwal, 40, formerly worked at Collins Stewart LLC in San Francisco, said a person familiar with the situation.
He made an initial appearance in federal court in San Francisco on July 30 after being arrested the day before by Federal Bureau of Investigation agents in San Jose, California, as part of a probe tied to insider trading at SAC.
SAC Capital, owned by billionaire Steven Cohen, was indicted July 25 in what the U.S. called an unprecedented, decade-long insider trading scheme. That day, Manhattan U.S. Attorney Preet Bharara announced Lee’s guilty plea and said Lee was cooperating with prosecutors.
'We continue to review the allegations', Sam Braverman, Aggarwal’s lawyer, said in an interview today after court. “The defendant as promised came to New York to address the charges directly.”
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