In a pair of documents, the Securities and Exchange Commission and the Federal Bureau of Investigation describe an illegal exchange of information, which allegedly allowed hedge funds to reap $30 million in profits. According to the Federal complaints, employees at publicly traded technology companies sold secret information about those companies to workers at hedge funds, which then used that information to make big trades in the companies' stock.

The FBI documents add more color to the accusations. In November last year, after he read about the probe into insider trading, Barai allegedly wrote to Pflaum from his BlackBerry:

- This scope is said to focus on the use of so-called expert network firms - Concern for years that some experts may be passing out confi [meaning, confidential] info about to go public cos [meaning, companies] to traders.... - [The Firm] was only one named!!!! - F*****ck

The next morning he said, according to the FBI:

- Didn't sleep much either. - I dunno - I think we ok tho - I think U just go into office - Shred as much as u can
He also said, according to the FBI:

- Let's not worry.... - No evidence we got exact info - So it doesn't matter.... - Forget the past - No proof - So ur fine
During a conversation between Freeman and Longueuil, which they recorded, they describe how to destroy electronic evidence, the FBI says. From the document:

Freeman then remarked, "I don't see how you get rid of this sh*t," to which LONGUEUIL explained, "Oh, it's easy. You take two pairs of pliers, and then you rip it open ... and then, it's just a piece of NAND. ... So I just f*cking ripped it apart right there. ... I had two external drives that had like wafer numbers on 'em. F*ckin' pulled the external drives apart. Destroyed the platter. ... Put 'em into four separate little baggies, and then at 2a.m. ... 2a.m. on a Friday night, I put this stuff inside my black North Face [u/i] jacket, ... and leave the apartment and I go on like a twenty block walk around the city ... and try to find a, a garbage truck ... and threw the sh*t in the back of like random garbage trucks, different garbage trucks."

Longueuil and Freeman have been accused of insider trading while they were employees of SAC Capital Advisors, the $12 billion hedge fund run by Steven A. Cohen. The company released a statement saying it is "outraged by the alleged actions of two former employees, which required active circumvention of our compliance policies and are egregious violations of our ethical standards."