Mr. Nothern, who left MFS more than a year and a half ago and was contesting the accusations, also received a tip on the elimination of the 30-year bond from Mr. Davis, and together with three other portfolio managers bought a total of $65 million in 30-year bonds for MFS funds.
Hartley, a barrister, and Cevik, a marketing manager, bought a two-bed flat in Stoke Newington for £465,000 in February.
David Kessler, 27, a portfolio manager, bought a poster from the table of the Israeli Poster Center, on King George Street in Jerusalem.
See articleVerizon Wireless, America's biggest mobile-service provider, announced an unexpectedly large dividend of $7 billion to its parent companies, Verizon Communications and Vodafone.Daniel Loeb, an American activist hedge-fund manager, bought a 6.5% stake in Sony for $1.1 billion.
Such a practice is a type of front-running, an illegal practice in which a money manager buys a stock that is certain to go up because it will be purchased later in large quantities by a fund.
Scott A. Bommer, a hedge-fund manager, bought a full-floor apartment on the 29th floor at the Residences at the Ritz-Carlton, 50 Central Park South, at the end of July for $28.5 million.
For $54,000, she and her husband, Chip Munday, 49, a property manager, bought a half acre last month in Altos del María, a new second-home community in the mountains of Panama, about 90 minutes from Panama City.
These contracts have now largely disappeared, after the tax authorities ruled in 1997 that entering into an equity swap incurred a capital-gains-tax liability.Today's hot derivative is the "zero-cost collar"—the manager buys a put option on his company's shares from the investment bank, and finances this by selling it a call option.
He became a regional sales manager, bought a car, and got married.
Say the manager buys a building for $100 million, putting down $30 million of your money and borrowing the rest.
