Ishan Wahi, a former product manager at U.S. cryptocurrency exchange Coinbase Global and his brother, Nikhil Wahi, have settled civil charges with the SEC in a case of insider trading in an age of emerging cryptocurrencies and digital assets. Early in May, in a separate criminal legal action, Ishan Wahi was sentenced to two years in… Read More >>
Congress Mulls Banning Itself from Trading Stocks
Remember that time in 2020, when the pandemic was just beginning and its dangers were not yet widely appreciated? That was when a group of United States Senators received closed-door briefings on the imminent crisis presented by COVID-19. What did these senators do right after their secret briefings? Alert the mostly unsuspecting public? Nope. They… Read More >>
Goldman Sachs VP Charged with Insider Trading
An investment bank vice president has been arrested and stands accused in a SEC complaint filed in a New York federal court of using a nominee trading account, held in the name of a close friend, to make “numerous” securities trades on material nonpublic information (MNPI). According to the SEC complaint, Woojae Jung, 37, a.k.a…. Read More >>
Visium Pays $10M to Settle Insider Trading Charges
The SEC reports that Visium Asset Management LP, a now-shuttered hedge fund advisory firm, has agreed to be censured and to pay approximately $10 million to settle charges related to asset mismarking and insider trading. Separately, the SEC says that Steven Ku, age 48 and a resident of Princeton Junction, N.J., Visium’s former chief financial… Read More >>
Four Arrested in Medicare Info Insider Trading Scheme
The SEC has reported civil charges — and the U.S. Department of Justice (DOJ) has filed criminal charges — in an alleged insider trading scheme involving “tips of nonpublic information about government plans to cut Medicare reimbursement rates, which affected the stock prices of certain publicly traded medical providers or suppliers.” The four alleged participants… Read More >>
Indy Vet Cooperman Hit with Insider Trading Charges
Industry veteran Leon G. Cooperman, 73, and his 25-year-old, Manhattan-based hedge fund, Omega Advisors, Inc., are being charged with insider trading by the SEC, but the industry veteran denies the charges and says that he has retained the law firm Paul, Weiss, Rifkind, Wharton & Garrison to defend himself. The SEC wants to take Cooperman,… Read More >>
Will Steven A. Cohen Return to the Fray in 2018?
Former hedge fund heavyweight Steven A. Cohen, who has just settled with the SEC, could return to managing other people’s money again in 2018. However, an internal memo that he penned and which was obtained by FTF News, indicates that Cohen may not automatically return to the fray. In the memo, Cohen acknowledges that he… Read More >>
Steven A. Cohen Accepts Two-Year Ban from Trading
Steven A. Cohen, who has been under investigation for the better part of a decade over insider trading charges by the SEC, can begin managing other people’s money again in 2018. Until then, according to a recent SEC settlement, Cohen is “prohibited from supervising funds that manage outside money … in order to settle charges… Read More >>
SEC Charges Ex-Analyst for JPMorgan with Insider Trading
The SEC is charging a former investment banking analyst, Ashish Aggarwal, who worked in J.P. Morgan’s San Francisco office, with illegally relaying insider information to his friend that was “confidential information about clients involved in impending mergers and acquisitions of technology companies,” officials say. The SEC is also charging Aggarwal’s friend and another individual with… Read More >>
SEC Uncovers Scheme to Trade on Stolen Earnings Data
In a major antifraud action, the SEC has issued charges against 32 participants — hackers and traders —allegedly scheming to trade on corporate earnings announcements via press releases stolen before they were made public. The individuals charged include two Ukrainian men who allegedly hacked into newswire services to obtain the information “and 30 other defendants… Read More >>
