Early on Tuesday, U.S. authorities filed criminal and civil fraud charges against Yves M. Benhamou, a 50-year-old French physician, saying he leaked nonpublic information in late 2007 and early 2008 to a hedge fund. Reuters notes authorities did not name the hedge fund.
FrontPoint Partners oversees roughly $7 billion in assets, including in health care funds. It has offices in Greenwich, Conn.; New York; and London.
According to Reuters, the fund's healthcare-focused group was formed in 2003 when Chip Skowron, Jason Bonadio and Ajay Bhalla joined the firm from rival hedge fund firm SAC Capital Management. Last month FrontPoint's partners said they are buying back a majority stake in the firm from investment bank Morgan Stanley.
Calls by Reuters to FrontPoint and Morgan Stanley were not returned.