Analyst arrested over alleged tips to hedge fund SAC

A securities analyst accused of leaking secret information in 2009 about a potential partnership between Yahoo and Microsoft to an SAC Capital Advisors hedge fund manager and other traders has been arrested and charged in California, prosecutors said yesterday. Sandeep Aggarwal, who worked as an analyst covering technology stocks before moving to India to start his own internet company, did not enter a plea to allegations that he passed non-public information to about a dozen hedge fund managers including SAC portfolio manager, Richard Lee, who pleaded guilty last week.