Tag:

Insider Trading

Brielle Broker Bought Private Jet, Luxury Caribbean Trip In $3.4M Insider Trading Scheme: Feds Brielle Broker Bought Private Jet, Luxury Caribbean Trip In $3.4M Insider Trading Scheme: Feds
Brielle Broker Bought Private Jet, Luxury Caribbean Trip In $3.4M Insider Trading Scheme: Feds A former partner at a New Jersey broker-dealer firm was accused of insider trading, making more than $3 million in illegal profits, authorities said. Christopher Matthaei, 44, of Brielle, was arraigned in federal court on Wednesday, July 17, New Jersey's U.S. Attorney Philip Sellinger said in a news release. A federal grand jury indicted him on Friday, June 21 for two counts of securities fraud conspiracy and seven counts of securities fraud. According to court documents and statements, Matthaei was a partner and senior salesperson at a trading firm based in Charlotte, North Carol…
Albany County Personal Pilot To Billionaire Investor Admits Role In Insider Trading Scheme Albany County Personal Pilot To Billionaire Investor Admits Role In Insider Trading Scheme
Albany County Personal Pilot To Billionaire Investor Admits Role In Insider Trading Scheme A private pilot from New York has admitted to taking part in an insider trading scheme involving his billionaire boss. Albany County resident Patrick O’Connor, age 67, of Preston-Potter Hollow, pleaded guilty to securities fraud in Albany federal court on Monday, Feb. 26. O’Connor worked as a personal pilot to billionaire Joseph Lewis, a British businessman and investor who is the principal owner of the Tavistock Group, an international private investment organization. According to prosecutors, Lewis, age 87, was regularly given material, non-public information about various companies for …
New TV Show Shines Spotlight On Katonah's Own Martha Stewart: 'Original Influencer' New TV Show Shines Spotlight On Katonah's Own Martha Stewart: 'Original Influencer'
New TV Show Shines Spotlight On Katonah's Own Martha Stewart: 'Original Influencer' An upcoming limited series is set to highlight the many facets of iconic homemaker and lifelong area resident Martha Stewart and explore the story behind her success.  A new four-part CNN Original Series, "The Many Lives of Martha Stewart," is set to air over two consecutive weekends, beginning with two episodes on Sunday, Jan. 28 at 9 p.m. and 10 p.m., and ending with the last two installments on Sunday, Feb. 4 at 9 p.m. and 10 p.m.  The show will explore the story of Stewart's life, including her time as a young stockbroker in the 1960s, a caterer at a Connecticut farmhouse, a s…
Santos Lashes Out At Former NY Republican Congressional Colleagues, Including LaLota Santos Lashes Out At Former NY Republican Congressional Colleagues, Including LaLota
Santos Lashes Out At Former NY Republican Congressional Colleagues, Including LaLota Former New York Rep. George Santos appears to be out for revenge following his historic expulsion from Congress. Within hours of being voted out of the US House on Friday, Dec. 1, the disgraced Santos began unleashing a series of social media posts targeting his former Republican colleagues. Unsurprisingly, all of those in his sights were among the 105 Republicans who voted to kick him out of office amid mounting accusations of criminality. Earlier Report: And Just Like That: Lock Changed, Website Scrubbed Following George Santos’ Historic Ouster First on the hit list was Staten I…
$30M Insider Trading Case: Dutchess Duo Profited From Pharmaceutical Merger Info, Feds Say $30M Insider Trading Case: Dutchess Duo Profited From Pharmaceutical Merger Info, Feds Say
$30M Insider Trading Case: Dutchess Duo Profited From Pharmaceutical Merger Info, Feds Say Four men from New York and Massachusetts, including a police chief, are accused of making millions of dollars through an insider trading scheme involving one pharmaceutical company’s acquisition of another. The case, announced by the US Attorney’s Office in the Southern District of New York on Thursday, June 29, is one of four separate insider trading cases that reportedly generated a combined $30 million for those involved. Named in the case are: Shawn Cronin, age 43, of Dighton in Bristol County, Massachusetts and chief of the Dighton Police Department Joseph Dupont, age 44, of Rehoboth…
'Cybercriminal, Cheat' Russian Hacker Guilty Of Boston Stock Conspiracy: Feds 'Cybercriminal, Cheat' Russian Hacker Guilty Of Boston Stock Conspiracy: Feds
'Cybercriminal, Cheat' Russian Hacker Guilty Of Boston Stock Conspiracy: Feds A Russian businessman was convicted this week of an elaborate conspiracy where he and several others hacked into a computer system located in Boston to steal yet-to-released earnings reports from hundreds of companies and used the information to buy stocks, authorities said. They made nearly $100 million in this scheme, officials added.  Vladislav Klyushin, age 42, of Moscow, was found guilty on Tuesday, Feb. 14, on all charges, including wire fraud and securities fraud, following a 10-day trial in Boston, the US Attorney for Massachusetts said. He faces up to 30 years in federal prison.  …
Bed Bath & Beyond Exec Faced $1.2B Insider Trading Lawsuit When He Jumped To His Death: Report Bed Bath & Beyond Exec Faced $1.2B Insider Trading Lawsuit When He Jumped To His Death: Report
Bed Bath & Beyond Exec Faced $1.2B Insider Trading Lawsuit When He Jumped To His Death: Report An executive at Bed Bath & Beyond who jumped 18 stories to his death at the so-called "Jenga" tower in New York City where he lived on Friday, Sept. 2 was facing a $1.2 billion insider trading lawsuit, according to a new report. Gustavo Arnal, age 52, was the company's executive vice president and chief financial officer. Arnal was among several defendants named in a complaint alleging a "pump-and-dump" stock fraud scheme, the Daily Mail first reported. Bed Bath & Beyond, the lead defendant, allegedly made a “materially false and misleading statement” in a Securities and Exchange …
Bed Bath & Beyond Exec ID’d As Man Who Jumped To His Death From 18th Floor Of Manhattan Tower Bed Bath & Beyond Exec ID’d As Man Who Jumped To His Death From 18th Floor Of Manhattan Tower
Bed Bath & Beyond Exec ID’d As Man Who Jumped To His Death From 18th Floor Of Manhattan Tower Updated story: Bed Bath & Beyond Exec Faced $1.2B Insider Trading Lawsuit When He Jumped To His Death: Report An executive at Bed Bath & Beyond has been identified as the man who jumped 18 stories to his death at the so-called "Jenga" tower in New York City on Friday, Sept. 2, according to multiple reports. Gustavo Arnal, age 52, was the company's executive vice president and chief financial officer. Calls reporting a jumper came around 12:30 p.m. from the 60-story building's location in lower Manhattan's Tribeca neighborhood at 56 Leonard Street near Church Street, a…
Billion-Dollar Stock Fraud: Indicted Bergen County Businessman Freed On $100M Bond Billion-Dollar Stock Fraud: Indicted Bergen County Businessman Freed On $100M Bond
Billion-Dollar Stock Fraud: Indicted Bergen County Businessman Freed On $100M Bond A Bergen County businessman was arrested by federal agents on charges of orchestrating a massive market manipulation scheme that caused one of the biggest Wall Street trading collapses in history. Sung Kook “Bill” Hwang put the entire financial system at risk by conspiring with his former chief financial officer to boost profits for his Archegos Capital Management by lying to banks to inflate the stock prices of publicly traded companies, federal prosecutors said on Wednesday, April 27. The fraud scheme ballooned Hwang’s personal fortune from $1.5 billion to more than $35 billion in a singl…
NY Man Charged With $8 Million Insider Trading Scheme NY Man Charged With $8 Million Insider Trading Scheme
NY Man Charged With $8 Million Insider Trading Scheme A New York man is facing charges for his role in a multi-million dollar insider trading scheme that involved jumping ahead of his employers’ trades. Long Island resident Sergei Polevikov, age 48, of Port Washington, has been charged with securities fraud, wire fraud, and investment company fraud in connection with his scheme to misappropriate confidential information about pending trades by his employer, an investment adviser, on behalf of its investment company clients. US Attorney Audrey Strauss said that Polevikov was arrested on Wednesday, Sept. 22, and scheduled to make his initial co…
Trio Accused Of Insider Trader After NY Company's Stock Surged Following Rebranding Trio Accused Of Insider Trader After NY Company's Stock Surged Following Rebranding
Trio Accused Of Insider Trader After NY Company's Stock Surged Following Rebranding The Securities and Exchange Commission has charged three people with insider trading on allegations they bought shares of a New York company before its announcement it would "pivot" to a surprise name change and new business model. Eric Watson, an undisclosed control person of Long Island-based Long Blockchain, drove the business change during the 2017 crypto craze and tipped off his friend and broker, Oliver Barret-Lindsay, according to the SEC's complaint, filed in the United States District Court for the Southern District of New York on Friday, July 9. Long Blockchain, based in…
COVID-19: NY AG Accuses Kodak CEO Of Unlawful Insider Trading During Pandemic COVID-19: NY AG Accuses Kodak CEO Of Unlawful Insider Trading During Pandemic
Covid-19: NY AG Accuses Kodak CEO Of Unlawful Insider Trading During Pandemic New York Attorney General Letitia James has Kodak CEO Jim Continenza in her crosshairs as she targets the business giant for allegedly profiting from the COVID-19 pandemic. James announced that her investigation into Continenza, the CEO of the Eastman Kodak Company, led to the filing of a petition✎ EditSign with the New York County State Supreme Court to have Continenza publicly testify about his purchase of more than 46,000 shares of Kodak stock early last summer and the company's subsequent false statements about that trading to investors last month. It is alleged that the Kodak CEO …
Ex-Long Island Pharmaceutical Company CFO Admits To Insider Trading Ex-Long Island Pharmaceutical Company CFO Admits To Insider Trading
Ex-Long Island Pharmaceutical Company CFO Admits To Insider Trading The former chief financial officer of a Long Island pharmaceutical company is facing 20 years in prison after admitting to insider trading. East Northport resident Douglas Roth, the former CFO of Port Washington-based Aceto Corporation, which is based out of Port Washington, pleaded guilty this week to securities fraud for insider trading. Acting U.S. Attorney for the Eastern District of New York Seth DuCharme announced. DuCharme said that Roth obtained material non-public information about Aceto’s financial condition while serving as the company’s CFO, then sold shares of Aceto ahead of a …
Ex-Investment Bank Director From Long Island Sentenced For Insider Trading Scheme Ex-Investment Bank Director From Long Island Sentenced For Insider Trading Scheme
Ex-Investment Bank Director From Long Island Sentenced For Insider Trading Scheme A former Wall Street investment banker from Long Island has been sentenced after being convicted of insider trading for a second time after illegally tipping his father off to healthcare industry mergers. North Merrick resident Sean Stewart, 38, a former senior investment banker at two New York-based investment banks was sentenced to 24 months in prison following his conviction after a seven-day trial for illegally providing tips to his father, Robert Stewart, with non-public information. In addition to his prison term, Stewart was sentenced to three years of supervised release. He's due to…
Hedge Fund Billionaire Takes Steps To Purchase New York Mets Hedge Fund Billionaire Takes Steps To Purchase New York Mets
Hedge Fund Billionaire Takes Steps To Purchase New York Mets Many New York Mets fans may have their wishes granted as Greenwich hedge fund billionaire Steve Cohen, a Long Island native, is taking steps to purchase the majority of the team from the Wilpon family. Sterling Partners, the Wilpon’s family business, has reportedly entered talks to sell up to 80 percent of its shares of the Major League baseball team to Cohen, who is already an investor in the club. If completed, the transaction would value the franchise at approximately $2.6 billion. Under the proposed agreement, Fred Wilpon would remain as CEO for five more years, and Jeff Wilpon will con…
Ex-Investment Banker From Long Island Convicted For Insider Trading Scheme Ex-Investment Banker From Long Island Convicted For Insider Trading Scheme
Ex-Investment Banker From Long Island Convicted For Insider Trading Scheme A former Wall Street investment banker from Long Island has been convicted of insider trading for a second time after illegally tipping his father off to healthcare industry mergers. North Merrick resident Sean Stewart, 38, a former senior investment banker at two New York-based investment banks was convicted following a seven-day trial for illegally providing tips to his father, Robert Stewart, with non-public information. Stewart was found guilty of providing his father with non-public information concerning five separate corporate acquisitions before they were announced, U.S. Attorney Ge…
Four Sentenced For Elaborate Insider Trading Scheme At Manhattan Hedge Fund Four Sentenced For Elaborate Insider Trading Scheme At Manhattan Hedge Fund
Four Sentenced For Elaborate Insider Trading Scheme At Manhattan Hedge Fund A Fairfield County resident was among four men sentenced for an elaborate insider trading scheme that net a Manhattan hedge fund millions of dollars in profit. For five years, 42-year-old David Blaszczak, a political intelligence consultant from  Isle of Palms, South Carolina, was able to obtain confidential, non-public information from members of Centers for Medicine and Medicaid Services - including Christopher Worrall, 40, of Linthicum Heights, Maryland, who was a government employee there, according to Robert Khuzami, the Attorney for the Southern District of New York. Blaszczak then pr…
New York Congressman Arrested On Insider Trading Charges New York Congressman Arrested On Insider Trading Charges
New York Congressman Arrested On Insider Trading Charges A Republican Congressman from New York has been indicted on charges that claim he used insider information about a biotechnology company to make stock trades. Chris Collins, who represents a district in western New York was charged - along with his son, Cameron and Cameron's fiancée's father, Stephen Zarsky - with a host of charges, including conspiracy, securities fraud, wire fraud, and making false statements to the FBI, according to an indictment released on Wednesday. Collins, 68, had been under investigation by the Office of Congressional Ethics for his connection to Innate Immunothera…
Ex-Wall Street Law Clerk From Westchester Sentenced For Insider Scheme Ex-Wall Street Law Clerk From Westchester Sentenced For Insider Scheme
Ex-Wall Street Law Clerk From Westchester Sentenced For Insider Scheme A Northern Westchester man who was the former managing clerk for an international law firm was resentenced for stealing sensitive, confidential information for use in a five-year insider trading scheme that yielded net profits of more than $2 million, U.S. Attorney Craig Carpenito announced. Steven Metro, 44, formerly of Katonah, was sentenced Wednesday to 37 months in prison.  Metro pleaded guilty to the first two counts of an indictment charging him with securities fraud and conspiracy to commit securities and tender offer fraud In November 2015, and was sentenced to 46 months in prison i…