Sam Barai, Hedge Fund Manager for Barai Capital Management has [leaded guilty to securities fraud and obstruction for impeding a federal grand jury by destroying evidence. Magistrate Nathanial Fox said he could face up to 65 years in prison. His activities related to obtaining insider information for stock trades from expert networking consultants. He has also agreed to provide substantial assistance to prosecutors. He hopes that by doing so, he will get a reduced sentence in his case. The government is prosecuting over 50 individuals for insider trading in the largest investigation of its kind and further indictments are imminent, some thought to be concerning well known traders and hedge fund managers.