Preet Bharara, the U.S. Attorney in Manhattan, has widened an investigation of hedge funds and other financial institutions suspected of insider trading. The latest arrest came Wednesday, the same day a judge rejected a defense challenge to wiretaps the prosecutor has used, reports the Associated Press. Bharara, 42, has displayed a trademark tenacity tempered by a humility – a combination that’s won admirers inside and outside the nation’s largest U.S. attorney’s office.
Said Eric Snyder, a former prosecutor in the office: “There’s outrage out there. He represents the people and he’s going to react to what people are outraged by.” Born in India, Bharara immigrated with his parents to the U.S. in 1970 as an infant. He graduated from Harvard in 1990 and Columbia Law School in 1993, and worked in private practice until 2000. Last year, Bharara announced the prosecution of what he called the largest hedge fund insider trading scheme in history. Since then, 14 of the 23 people arrested in the probe have pleaded guilty, with many of them cooperating. The investigation has led in many ways to the new insider trading probe.