Brooklyn Heights Resident Charged with Securities Fraud is Apparent Suicide

By on June 21, 2016 2:53 pm in Brooklyn Heights, crime, News

The Daily News reports that Sanjay Valvani, 44, a hedge fund manager who faced charges of securities fraud, wire fraud, and conspiracy arising from alleged insider trading, was found dead in his Sidney Place townhouse yesterday evening, an apparent suicide. Valvani is said to have made about $25 million from trades based on non-public information concerning pending Food and Drug Administration approvals of generic drugs, and was free on a $5 million bond secured by what the News describes as “his posh Brooklyn Heights home”. The News story quotes Valvani’s lawyer as saying the U.S. Attorney “stretch[ed] the facts and law to try to transform entirely innocent trading decisions into a crime.” It also quotes Jacob Gottlieb, founder of Visium Assets Management, Valvani’s employer, as saying “We mourn the tragic loss of Sanjay, a devoted father, husband, and friend”. Visium had placed Valvani on “extended leave” pending the outcome of the investigation.

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  • William

    I was running yesterday evening and saw a number of policeman outside a townhouse on the west side of Sidney Place around 7:30. There was a woman sobbing on the stoop, which I now assume was his wife and I wondered what was wrong. It seems even sadder to me now that I know what happened.

  • William
  • ColumbiaHeightster

    Please don’t speculate. You have no idea what was in that man’s heart or mind.

  • e

    Agreed — this is one of the most inappropriate comments I’ve ever seen on this site. A- he was charged, not convicted, and as you may have heard people in the US are entitled to a presumption of innocence; and more importantly B- this wasn’t the time or place, in any event.

  • http://www.youtube.com/watch?v=UlsiLOnWCoI Arch Stanton

    I don’t see much “speculation” in AP’s comment. The guy was most likely guilty and offed himself out of shame.

  • ColumbiaHeightster

    Not sure you have a strong working knowledge of the word “speculation.” Look it up and come back to me.

  • AnonyMom

    Shame on you, AP and Arch. The man has small children who now have to live with the fall out of his death for the rest of their lives. And he has a grieving spouse. One would hope you could stop and think about THAT for one hot second and keep your insensitive comments to yourselves. But, nope. It’s very convenient of you to lob insults from the comfort of your own home.

  • http://www.youtube.com/watch?v=UlsiLOnWCoI Arch Stanton

    I didn’t insult the guy.
    “The man has small children who now have to live with the fall out of his death for the rest of their lives”
    Yes exactly the point AP made, I was just backing it up.

  • http://www.youtube.com/watch?v=UlsiLOnWCoI Arch Stanton

    Not sure you do, the evidence in this case leads to more of an “informed opinion”, in my sense a “speculation” is based more on conjecture.

  • BobLaw2

    “he was charged, not convicted, and as you may have heard people in the US are entitled to a presumption of innocence”

    That’s a standard that applies in court, not everyday discourse. The fact that he killed himself is pretty strong circumstantial evidence that he was guilty.

  • ColumbiaHeightster

    It’s not about insults. It’s about common decency and compassion (we’re neighbors, remember?). Your choice whether to employ that in your daily lives or not.

  • KXrVrii1

    This is a bit of a long read, but is a very solid analysis of the claims. It is not at all clear that Valvani was doing something illegal. The author is a lawyer and has written extensively a about insider trading. http://www.bloomberg.com/view/articles/2016-06-16/hedge-fund-consultant-bantered-for-insider-information#footnote-1466011519863

    I don’t think suicide is strong circumstantial evidence of guilt. It could just as well be a reaction to knowing your life and career were going to be destroyed by over-zealous prosecutors. Compounded, no doubt, by other issues we have no knowledge of.

  • bklyn84

    Thank you for a thoughtful and compassionate response.

  • http://www.youtube.com/watch?v=UlsiLOnWCoI Arch Stanton

    For the thief who steals a loaf of bread because they are hungry, I have compassion. a thief who steals $25,000,000, not so much.

  • redlola

    People on this blog love to tell others how to feel and act. There is always someone setting the tone for what they think is the “right” opinion on amy post and others have to fall in line or get attacked. I agree with you. I think his suicide is an indication on something. I speculate it is guilt and fear. My condolences to go out to his family. This is awful circumstances.