‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInU.S. Attorney: Former Attorney Pleads Guilty To Defrauding Investors
Marc Celello, a former state securities enforcement attorney and General Counsel for a Georgia investment company, has pleaded guilty to conspiring to defraud investors out of over $40 million. “Marc Celello used his skills as an attorney to help his employer cheat investors out of millions of dollars,” said U.S. Attorney Byung J. “BJay” Pak. […]
Ex-SAC Fund Manager Has Insider-Trading Plea Tossed by Judge – Bloomberg
A former SAC Capital Advisors LP fund manager had his conviction for insider trading tossed out after a judge said current law no longer supports his guilty plea. Richard S. Lee pleaded guilty in 2013 days before SAC Capital was indicted for orchestrating a massive insider-trading scheme. Lee, who cooperated with prosecutors before seeking to […]
Fake hedge fund manager pleads guilty to securities fraud | New York Post
Scronic, 46, on Thursday pleaded guilty to securities fraud, admitting that he defrauded 45 investors — many of them pals — out of $22 million while running his fake hedge fund from his home. In seven-plus years of running the scam, Scronic posted only one positive quarter, court papers reveal. via Fake hedge fund manager […]
Local men plead guilty to insider trading | fox5sandiego.com
On the morning his insider trading trial was slated to begin in U.S. District Court, a San Diego man pleaded guilty to conspiracy, with his plea coming just days after his co-defendant was convicted of the same charge by a federal jury. Stockbroker Paul Rampoldi, 50, of San Diego was found guilty Friday after the […]
Florida lawyer pleads guilty in insider trading case –Reuters
A Florida lawyer accused by U.S. prosecutors of engaging in a nearly $1 million insider trading scheme using information he improperly obtained from his law firm’s databases pleaded guilty on Thursday, prosecutors said. via Florida lawyer pleads guilty in insider trading case –Reuters
Financial analyst who worked at Chicago firm pleads guilty to insider trading – Chicago Tribune
A 43-year-old financial analyst pleaded guilty Wednesday to securities fraud and faces up to 18 months in federal prison for an insider trading scheme that netted him about $143,000. Jason Napodano, a former managing director at Chicago-based Zacks Small Cap Research, admitted to using confidential information he obtained while preparing equity research reports about companies […]
Ukrainian hacker gets prison in U.S. insider trading case | Reuters
A Ukrainian computer hacker was sentenced on Monday to 2-1/2 years in prison over his role in a global scheme to conduct insider trading based on stolen, yet-to-be-published corporate news releases, U.S. prosecutors said. Vadym Iermolovych, 29, of Kiev, had been the first hacker to admit criminal wrongdoing, in what authorities have called the largest […]
Ukrainian Hacker Admits Role In Largest Known Computer Hacking And Securities Fraud Scheme | USAO-NJ
A Ukrainian hacker today admitted his role in an international scheme to hack into three business newswires, steal yet-to-be published press releases containing non-public financial information, and use the information to make trades that allegedly generated approximately $30 million in illegal profits, U.S. Attorney Paul J. Fishman announced. via Ukrainian Hacker Admits Role In Largest […]
Georgia man pleads guilty in big U.S. insider trading hacking case — Reuters
A trader from Alpharetta admitted to involvement in what U.S. authorities have called a more than $100 million international insider trading scheme that involved hacking into networks that distribute corporate news releases. Igor Dubovoy, 28, pleaded guilty on Wednesday to one count of conspiracy to commit wire fraud, according to U.S. Attorney Paul Fishman in New […]
Judge Lets Four Defendants Retract Insider-Trading Guilty Pleas – Law Blog – WSJ
December’s seismic insider-trading ruling is still reverberating in federal court. A U.S. district judge in Manhattan on Thursday allowed four men to pull their insider-trading guilty pleas, citing last year’s Second U.S. Circuit Court of Appeals ruling that put new limitations on prosecutors’ ability to pursue such cases. via Judge Lets Four Defendants Retract Insider-Trading Guilty Pleas […]