By Katya Wachtel
For the two founders of FBI-raided and since-shuttered hedge fund firm Level Global, life could not be more different.
In early January, one co-founder, David Ganek, sat court-side at Madison Square Garden as the Charlotte Bobcats pummeled the New York Knicks. Ganek appeared relaxed and jovial as he greeted familiar faces in the front row. The Knicks lost, but Ganek could still enjoy the Knicks home-base party.
For Level Global’s other founder, Anthony Chiasson, life is not as sweet.
On Wednesday Chiasson (who launched Level Global with Ganek in 2003) was charged with insider trading as part of the FBI’s sweeping “Operation Perfect Hedge” investigation. Ganek has not been accused of any wrongdoing.
Chiasson and six others (including another former Level Global-ist, analyst Spyridon Adondakis) are accused of running a $62 million insider trading scheme in 2008 and 2009. He was released on $5 million bail on Wednesday, and has denied the charges against him.
Of all the defendants who are accused of lining their pockets with ill-gotten gains, the figure attached to Chiasson and Level Global is the largest: $57 million.