Hedge Fund Priest Sanctioned Over Press Leaks in SEC Case

A priest who has a side gig as a hedge fund manager must pay a penalty for leaking information protected as part of an SEC suit to a reporter, a Massachusetts federal district judge said.

Emmanuel Lemelson, who is listed on the docket as Gregory Lemelson, “concede[d]” that he violated a protective order by sharing the confidential information with a Barron’s journalist, the U.S. District Court for the District of Massachusetts said Wednesday.

The Securities and Exchange Commission accused Lemelson, who is ordained by the Greek Orthodox Church, of publishing fake “research reports” online about Ligand Pharmaceuticals Inc. in an ...