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22Jan/120

7 charged in $78M record-setting inside trade case (AP)

Hedge fund portfolio manager Todd Newman, of Needham, Mass., leaves the federal court house after his appearance in connection with an insider trading investigation in Boston, Wednesday, Jan. 18, 2012. Nearly $62 million was earned illegally by hedge funds, financial analysts and a Dell Inc. employee represents 'a stunning portrait of organized corruption on a broad scale', a prosecutor said Wednesday in announcing charges in the case. (AP Photo/Charles Krupa)AP - Greed on Wall Street set a new record, federal authorities said Wednesday as they unveiled a massive insider trading case charging a hedge fund co-founder with engineering a trade that earned a staggering $53 million in profits.

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