Global Insider Trading Ring Tied to Law Firms Charged in Tens-of-Millions Scheme

U.S. prosecutors unsealed charges against 30 individuals—mostly corporate attorneys and financial traders—for a decade-long insider trading scheme that stole confidential information from major law firms about nearly 30 mergers and acquisitions, netting tens of millions in illicit profits. Nineteen defendants were arrested in the United States; others include fugitives in Russia and Israel. The scheme used burner phones, encrypted apps, shell accounts, and kickbacks to move MNPI to traders across the U.S. and overseas, with potential penalties including multi-decade prison terms if convicted.