Reported by Roland Li The Securities and Exchange Commission is investigating trading activity by First Republic Bank executives before the San Francisco institution’s sale to JPMorgan Chase, Bloomberg reported. The agency is reportedly looking for evidence of improper insider trading. It isn’t clear which executives are the focus of the inquiry, and no one has been charged, Bloomberg […]
Reported by JOSEPH KONIG A bipartisan group of unlikely allies in Congress have banded together to take on stock trading by their colleagues, a practice they say leads to conflicts of interest and potential corruption. It’s not the first effort to do so, but the idea has gained significant traction among certain corners of Congress […]
Reported by BEN WEISS Nikhil Wahi, a 27-year-old crypto trader whose brother worked for Coinbase, has agreed to pay $469,525.50 to the publicly traded cryptocurrency exchange for his role in an insider-trading scheme. The court filing, which was signed April 6, was made public Monday. In September, Wahi agreed to a plea deal with the Department […]
Reported by SHALINI NAGARAJAN Source: Shutterstock / Tada Images, modified by Blockworks The Securities and Exchange Commission appears to be close to a settlement agreement with Ishan Wahi, a former product manager at Coinbase who the agency charged and accused of insider trading. In February, Wahi pled guilty to two counts of conspiracy to commit wire fraud […]
Reported by U.S. Department of Justice, U.S. Attorney’s Office, Southern District of New York Damian Williams, the United States Attorney for the Southern District of New York, announced today that AMIT BHARDWAJ, the former Chief Information Security Officer (“CISO”) at Lumentum Holdings Inc. (“Lumentum”), pled guilty to 13 counts arising from his participation in a […]
Reported by Angela Berkowitz, Brendan Blake, Benjamin Halper, Jennifer Burns Luz, Jonathan Shapiro, and Marco Wong On February 3, 2023, in the matter In re Tesla Inc. Securities Litigation, Case No. 3:18-cv-04865, a California federal jury cleared Tesla, Inc. (Tesla), and CEO Elon Musk of claims that they committed securities fraud, causing investors to suffer losses […]
Reported by Ben Foldy and Tom McGinty Top executives of First Republic Bank sold millions of dollars of company stock in the two months before the bank’s shares plummetedduring the panic over the health of regional lenders. The bank’s chief risk officer sold on March 6, according to government documents. Two days later, Silicon Valley Bank shocked the […]
Reported by Dave Michaels The founder of telehealth provider Ontrak Inc. was charged in a first-of-its-kind criminal insider-trading case, with prosecutors alleging he sold millions of dollars worth of stock while misusing a trading plan that executives normally deploy to shield themselves from such suspicions. Ontrak chief executive Terren Peizer set up the prearranged trading […]
Reported by Yahoo! Finance Yahoo Finance’s Rick Newman joins the Live show to discuss whether concerns around insider trading are warranted after Paul Pelosi sold stock ahead of the DOJ’s antitrust suit against Google parent company Alphabet. RACHELLE AKUFFO: All right, well, in the wake of the US Justice Department antitrust suits against Google, Paul Pelosi’s […]
Reported by: Prashant Jha Insider trading has become a burning topic in the crypto ecosystem, especially in light of the recent conviction of an ex-Coinbase manager’s brother. The insider trading charges were believed to be the first involving cryptocurrency, and now another set of wallet addresses with transaction history linked to Binance listings has raised suspicion. […]
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