Elite Lawyers Accused of Million-Dollar Insider Trading, Speaking in Code
TL;DR Summary
A decade-long insider-trading scheme allegedly run by elite corporate lawyers used code words like 'rabbi' and 'coffee' to discuss confidential merger information harvested from firms such as Wachtell Lipton, Latham & Watkins, and Goodwin Procter, enabling trades on deals including Anadarko-Occidental and Tim Hortons-Burger King. The operation spanned 2014–2024 with about 30 defendants across two indictments, numerous arrests, some fugitives, and sophisticated concealment via burner phones, offshore accounts and shell entities.
Topics:business#business#coded-language#doj-indictment#insider-trading#law-firms#mergers-and-acquisitions
- Elite corporate lawyers accused of earning millions on insider trading, using bizarre code like, 'How's the rabbi?' New York Post
- Lawyers at M&A law firms among 30 charged by US in insider trading scheme Reuters
- Elite Wall Street lawyers aided insider trading ring, say US prosecutors Financial Times
- Boston U.S. Attorney Charges 30 Individuals in Global Insider Trading Scheme Netting Tens of Millions in Illegal Profits Go Local Prov
- FBI says 30 charged in international insider trading scheme WCVB
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