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Cross Examination Today For The Hedge Fund Founder On Trial in the Esprit Insider Trading Case Segantii hedge fund founder Simon Sadler testified in a Hong Kong court that in 2017, the time his firm is accused of making illegal insider trades in Esprit Holdings stock, he was under growing personal and work stress “…He was the first witness called by defense lawyers, following a month of testimony from prosecution witnesses that included two former traders at Bank of America Corp. Sadler’s testimony is a key moment in a trial that concerns trades that were worth little more than $1 million — but which were ultimately enough to bring down a hedge fund that once had more than $6 billion of assets under management….. It was “one of the most difficult situations we’ve found ourselves in,” said Sadler, adding that he was losing sleep over it… …While on the stand, Sadler also talked about this decision to return money to investors in 2024, as the legal heat was mounting. The decision brought an end to a firm that Sadler said started with little over $25 million under management and just four employees….”