Marvell probes insider dealing

NEW YORK: Marvell Technology Group Ltd is conducting an internal investigation after employee Sam Miri was named as a recipient of payoffs for inside information by a hedge fund manager who pleaded guilty in the investigation of Galleon Group, company spokeswoman Diane Vanasse said.

Miri received payoffs in return for inside information, according to Ali Far, a hedge-fund manager who admitted to insider trading and is helping prosecutors in a probe of the industry.

Far told a judge while pleading guilty on Oct 19 that he had paid Miri for tips. A transcript of that hearing became publicly available Nov 11.