A little more than five years after federal agents raided the offices of Level Global Investors, securities regulators are returning $21.5 million in settlement money that the hedge fund paid to resolve an insider trading investigation, the New York Times reported today. A federal judge yesterday ordered the hedge fund’s 2013 settlement vacated after the Securities and Exchange Commission said it would not oppose the request by lawyers for the now-defunct hedge fund. Level Global shut its doors in 2011 after investors lost confidence in its management when one of its founders, Anthony Chiasson, was implicated in the insider trading scandal. Chiasson was convicted at trial, but the verdict was overturned and the charges tossed out by a federal appeals court in 2014.
