By Mariel S. Clark
DNAinfo News Editor
MIDTOWN — Federal investigators targeted three hedge fund offices on Monday, in an insider-trading raid that could lead to the arrests of multiple Wall Street financiers, according to news reports.
FBI agents searched the Seventh Avenue office of Level Global Investors as well as Diamondback Capital Management in Stamford, Conn. and Loch Capital Management in Boston, Mass., according to Bloomberg Businessweek.
“We can confirm that agents from the Federal Bureau of Investigation visited our offices this morning as part of what we believe to be a broader investigation of the financial services industry discussed in media reports over the weekend, Andy Merrill, a spokesman for Level Global, said in an e-mailed statement to NBC New York.
"We are cooperating fully with the authorities and, at the same time, we are fully operational and continue to work diligently for the benefit of our investors.”
The FBI confirmed to DNAinfo that an investigation was ongoing at the Midtown address of Level Global Investors, but would not name the company as being involved in the probe.
Calls to Level Global were not immediately returned.
Officials have not yet named the subjects of their search but on Sunday alluded to the pending arrests of bankers, attorneys, fund managers, consultants and analysts, the Wall Street Journal reported.
The raids are the result of a three-year investigation in which the FBI wiretapped phones to build their case, according to reports.
