San Francisco-based hedge fund analyst Matthew Teeple was released on $200,000 bond in connection to a $27 million insider trading scheme.
Bloomberg reported that Teeple, who was charged with conspiracy and securities fraud,did not enter a plea Wednesday in a Manhattan federal court. The hedge fund Teeple worked for was not disclosed.
As part of the bail agreement, Teeple is forbidden to travel outside of New York and New Jersey.
Teeple was initially arrested in March in California. His securities fraud charge could land him in prison for up to 20 years.