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Hedge fund manager dies of apparent suicide following arrest

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NEW YORK -- A hedge fund manager charged with insider trading has been found dead in his New York City apartment of an apparent suicide days after his arrest.

Police said Tuesday that Sanjay Valvani's wife found him with a slashed neck Monday evening. Police say an apparent suicide note was found. Detective Ahmed Nasser says a knife was found in the bedroom.

The medical examiner's office will determine the cause of death.

Valvani's lawyers called it a "horrible tragedy that is difficult to comprehend." Prosecutors declined to comment.

Valvani pleaded not guilty last week to charges he persuaded a former senior Food and Drug Administration official to give him inside information about generic drug approvals. Prosecutors say he earned about $25 million illegally from 2005 through 2011.

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