The FBI reportedly raided the Stamford offices of Diamondback Capital Management L.L.C., as part of a national investigation into insider trading in the financial industry first reported by the Wall Street Journal.
Authorities also targeted Level Global Investors L.P. in New York City and Loch Capital Management L.L.C. in Boston.
Diamondback Capital was co-founded in 2005 by Rich Schimel, Lawrence Sapanski and Chad Loweth, with Loweth leading the company earlier this year according to Bloomberg News. All three men previously were traders at Stamford-based SAC Capital as were senior managers of Level Global, Bloomberg reported, with Schimel a brother-in-law to SAC founder Steven Cohen.
