Ex-Fed Manager Admits to Insider Trading and Lying

Robert Brian Thompson, a former senior manager at the Federal Reserve Bank of Richmond, pleaded guilty to insider trading and making false statements. Thompson used confidential information to make $771,678 in personal profits from trades in financial institutions and falsely reported his assets to conceal the scheme. He faces up to 20 years in prison for insider trading and five years for false statements, with sentencing scheduled for March 2025.