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Hedge fund manager dies of apparent suicide in NYC following arrest

Posted at 11:53 AM, Jun 21, 2016
and last updated 2016-06-21 11:54:10-04

NEW YORK — A hedge fund manager charged with insider trading has been found dead in his New York City apartment of an apparent suicide days after his arrest.

Police said Tuesday that Sanjay Valvani’s wife found him with a slashed neck Monday evening. An apparent suicide note and knife were found, Detective Ahmed Nasser said.

The medical examiner’s office will determine the official cause of death.

Valvani’s lawyers called it a “horrible tragedy that is difficult to comprehend.” Prosecutors declined to comment.

Valvani pleaded not guilty last week to charges that he persuaded a former senior Food and Drug Administration official to give him inside information about generic drug approvals. Prosecutors say he earned about $25 million illegally between 2005 and 2011.