Sad to report
The New York Post reports that Valvani, 44, the portfolio manager at Visium Asset Management, turned himself in to authorities last week after he was accused of a $32m scheme that relied on insider information from the Food and Drug Administration on generic drugs that were about to get approved.
He was put on leave from the company earlier this year due to an investigation that led to the hedge fund getting shut down last Friday.
“We mourn the tragic loss of Sanjay, a devoted father, husband and friend,” Visium’s founder, Jacob Gottlieb, said in a statement obtained by Business Insider. “Our thoughts are with his family during this difficult time.”
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