Expert consultant convicted of insider trading

By the Associated Press | September 20, 2011 | 4:15 PM EDT

NEW YORK (AP) — A former expert consultant to hedge funds has become the latest man to be convicted in a wide-ranging prosecution of insider trading on Wall Street.

James Fleishman (FLESH'-man) was convicted Tuesday of conspiracy and wire fraud by a jury in federal court in Manhattan.

Prosecutors say Fleishman helped arrange for Primary Global Research clients, including hedge funds, to speak with consultants. The government says Fleishman used his executive position at the Mountain View, Calif.-based firm to link clients with four consultants employed by publicly traded companies.

Authorities say Fleishman and others essentially purchased and sold insider information.

Sentencing is set for Dec. 21. The case was an offshoot of a prosecution of insider trading at hedge funds that already has resulted in several dozen convictions.