All articles tagged with #insider trading
During a CNBC segment, Jim Cramer stammered on-air after co-hosts noted President Trump's quarterly stock trades (including Intel), sparking online speculation about insider trading; HuffPost also flags Trump's disclosed hundreds of millions in stock transactions and the broader scrutiny of how presidential stock moves may intersect with policy.
A 60 Minutes Overtime investigation found nine connected Polymarket accounts profiting roughly $2.4 million on Iran-war related bets with a 98% win rate across more than 80 bets, suggesting possible insider trading in a growing class of prediction markets. Bubblemaps analysts say luck can’t explain the pattern, and the report notes ongoing investigations and enforcement efforts while Polymarket says it flags and acts on suspicious activity and cooperates with authorities. The piece also highlights broader concerns about nonpublic information affecting bets on military outcomes and potential national security implications.
60 Minutes reports that prediction markets are seeing a surge in insider trading around U.S. military actions, highlighted by the indictment of Master Sgt. Gannon Ken Van Dyke for allegedly profiting about $400,000 on Polymarket using non-public information; analysts identify a larger pattern, with nine linked accounts earning about $2.4 million on military bets and unusually high win rates on long-shot wagers, prompting questions about enforcement and legal risk.
Reuters analysis finds about $7 billion in four large bets on Brent, WTI, diesel and gasoline futures placed roughly 15–20 minutes before major Iran–U.S. announcements, triggering sharp price moves and fueling insider-trading concerns; many accounts were newly created with win rates up to 93%, prompting DOJ and CFTC probes that face enforcement hurdles as online prediction markets proliferate.
U.S. prosecutors say a decade-long insider-trading scheme exploited confidential M&A information from elite law firms, led by a Goodwin Procter-connected network and involving dozens of people, including two college friends and a hairdresser, who tipped a web of traders on nearly 30 deals (e.g., iRobot/Amazon). The scheme allegedly earned tens of millions in illicit profits with kickbacks, drawing indictments for 30 individuals and civil actions from the SEC against 21 others; the case highlights how the custodians of sensitive deal info at law firms can be misused despite internal controls.
The Justice Department and the Commodity Futures Trading Commission are investigating oil trades placed shortly before major policy announcements related to the U.S.–Israel war with Iran, including at least four bets totaling more than $2.6 billion that oil prices would fall. Investigators are also examining suspicious activity on prediction-market platforms; the probe is in early stages and has not yet shown conclusive criminal wrongdoing.
The DOJ charged 30 individuals, including former Biglaw attorneys, in a decade-long insider-trading operation that allegedly leveraged non-public information from major law firms, routed through a layered network of traders and sources, and used burner phones and coded language; the scheme referenced deals like iRobot and Amazon, with 19 arrests and two fugitives, while unnamed victim firms likely include some of the country’s largest M&A practices.
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.
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.
Federal prosecutors unveiled indictments alleging a wide-scale insider-trading scheme that used nonpublic mergers-and-acquisitions information stolen from major law firms to net tens of millions in profits, tying deals at companies like Actelion, Amazon, Anadarko, eBay, iRobot, Johnson & Johnson, Occidental Petroleum and Permira to traders.
Federal prosecutors unveiled indictments alleging a multimillion-dollar insider trading scheme that used nonpublic information about mergers and acquisitions handled by top law firms (including Goodwin Procter, Latham & Watkins, Sidley Austin, Wachtell Lipton, and Weil Gotshal) to trade on deals involving major companies such as Amazon, Johnson & Johnson, and eBay.
A decade-long insider trading scheme netted tens of millions and led to charges against 30 people in two indictments, including South Florida residents such as Gavryel Silverstein (Hollywood) and several Broward/Miami-Dade defendants. Federal prosecutors say corporate attorneys Nourafchan and Yadgarov recruited insiders, paid kickbacks, and fed a network of traders who used confidential information from nearly 30 mergers and acquisitions. Arrests were made for 19 defendants, with two others on the run in Russia and Israel. Proceeds were moved via cash, shell companies, and offshore entities, disguising payments as loans; defendants face securities fraud, conspiracy, and money laundering charges that could result in decades in federal prison.
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.
The Senate unanimously voted to ban its members and Senate staff from participating in prediction markets amid scrutiny of insider-trading concerns tied to bets on elections and other events. Introduced by Sen. Bernie Moreno, the ban targets platforms like Kalshi and Polymarket and aims to address ethics in Congress; the House is not included in the ban.
Senators Kirsten Gillibrand and Dave McCormick introduced a bipartisan bill to bar members of Congress, the president, vice president, and senior executives from trading on prediction markets, require the CFTC to review and update rules to curb insider trading, and sanction platforms with age verification and case-by-case bans on bets tied to war or other sensitive events.