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The Boston Globe

Business

2 convicted of insider trading

Prosecution says Mass. man made $2.8m on tips

NEW YORK — Two former hedge fund managers, including one from Needham, Mass., were convicted Monday on insider trading charges, including allegations that one of them had made as much as $50 million on a tip about Dell Inc.’s earnings.

Todd Newman and Anthony Chiasson were convicted in federal court in Manhattan after a five-week trial that included testimony from two analysts for the men. The jury reached its verdict after two days of deliberations.

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