In one of the most significant attacks by law enforcement on insider trading in a decade, nine people have been charged in four separate and unrelated insider trading schemes They include a former U.S. congressman from Indiana, technology company executives, an investment banker, and a man training to be an FBI agent.
Damian Williams, United States Attorney for the Southern District of New York, speaks during a press conference at the United States Attorney's Office for the Southern District of New York on Monday, July 25, 2022, in New York. A former U.S.
He was described as making purchases of Sprint securities in March 2018 just a day after attending a golf outing with a T-Mobile executive who told him about the company’s then-nonpublic plan to acquire Sprint, according to a civil case brought against Buyer by the Securities and Exchange Commission in a federal court in Manhattan.
“We have zero tolerance, zero tolerance for cheating in our markets,” said Gurbir S. Grewal, director of the SEC Enforcement Division.
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