Indian-Origin Hedge Fund Manager Commits Suicide

Valvani was arrested last week and accused of insider trading.

Sanjay Valvani. (Photo Courtesy: Duke.edu)

Sanjay Valvani, an Indian-origin hedge fund manager charged with insider trading last week, was found dead at his home in an apparent case of suicide.

Valvani, 44, who worked as a portfolio manager with hedge-fund firm Visium Asset Management LP, was accused of trading on confidential information about generic-drug approvals.

He was found dead on Tuesday by his wife in the bedroom of their Brooklyn home with a slash wound on his neck. A knife and a suicide note near his body was discovered by police officers, a New York Police Department spokesperson said.

Valvani is survived by his wife, Harjot Sandhu, a former teacher and reading specialist.

Valvani was accused of having fraudulently made $25 million by getting advanced information about the US Food and Drug Administration (FDA) approvals of generic drug applications.

(With agency inputs)