SEC charges 21 in decade-long insider trading ring powered by law-firm intel
The SEC charged 21 individuals in a decade-long insider trading scheme (2018–2024) that misappropriated material nonpublic information from multiple global law firms, with leaders Nicolo Nourafchan and Robert Yadgarov allegedly tipping others who traded for illicit profits; a third corporate lawyer joined the scheme and helped expand it to more deals, including misused information from more than twelve pending transactions and generating millions in profits. The SEC seeks injunctive relief, disgorgement with prejudgment interest, and civil penalties, in a case filed in Massachusetts alongside parallel criminal charges announced by the U.S. Attorney’s Office.