Ali Far, co-founder of the hedge fund Spherix Capital, has admitted to paying for insider information, according to court records released earlier this week, according to Reuters.

In the transcript of the 19 October hearing, released earlier this week, Mr Far spoke of cash payments made to a man he identified as “Sam Neary.” This man was later confirmed to be Sam Miri, an employee of Marvell Communications, which manufactures computer parts, the news agency said.

Mr Far is one of the twenty charged with insider trading in the US government’s case against former hedge fund management firm Galleon Group.  Galleon has been at the center of the government probe of hedge fund firms in the months following the economic recession.

The investigation comes at a time when authorities in the US and elsewhere have been stepping their efforts to hunt down alleged financial wrongdoings.