The FBI showed up with search warrants at the office of three different hedge funds today as part of a huge insider trading probe. Sources say it’s a prelude to the biggest insider trading bust of all time.

One of the focuses of the investigation will be so-called “expert-network” companies, which arrange meetings and conference calls with ex and current managers at companies for traders looking to gain a competitive edge. I’m guessing they provided more than general industry advice and moral support.

FBI Raids Three Hedge Funds Amid Insider-Trading Case [WSJ]
U.S. in Vast Insider Trading Probe [WSJ]

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