Premium Point Employees Should Get New Trial, Judge Says (3)

The co-founder of Premium Point Investmentsand a former trader should get a new trial on charges they overstated the value of assets in the defunct hedge fund, after revelations of prosecutorial errors and misleading statements, a federal judge said.

U.S. District Judge Katherine Polk Failla, who presided at the criminal trial, said Anilesh Ahuja and trader Jeremy Shor, stopped short of dismissing the charges Friday, saying that errors made by the government -- while “unacceptable” -- were not severe enough to warrant throwing out the case.

“Some of the government’s statements to me were misleading and some ...