Hedge fund manager charged with insider trading found dead in a suicide

Tuesday, June 21, 2016
By Paul Martin

Sanjay Valvani, 44, found dead by his wife Jot in an apparent suicide
Had a wound to his neck; a note and knife were found
Arrested last Wednesday accused of having fraudulently made $25million by gaining advance word about FDA drug approval
Out on $5million bond secured by his home

21 June 2016

Sanjay Valvani, a hedge fund manager at Visium Asset Management LP who was arrested last week on insider trading charges, has been found dead in an apparent suicide, the police said on Tuesday.

Valvani, 44, was discovered by his wife on Monday evening at his Brooklyn residence with a wound to his neck, a New York Police Department spokeswoman said.

A suicide note has been recovered, as well as a knife, she added.

Valvani was arrested last Wednesday and accused of having fraudulently made $25 million by gaining advance word about U.S. Food and Drug Administration approvals of generic drug applications.

Valvani pleaded not guilty to five counts including securities fraud, wire fraud and conspiracy and was freed on $5 million bond secured by his home.

He was charged along with a former employee and an ex-government official.

Valvani, a portfolio manager with the health-oriented hedge fund, allegedly enlisted Gordon Johnston, a former senior official at the US Food and Drug Administration, to obtain confidential FDA information on the agency’s assessment of a generic version of the blood thinner Lovenox.

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