The SEC has charged Anthony Viggiano, a former Goldman Sachs employee, with insider Trading. The complaint alleges that Viggiano tipped off two friends about upcoming merger and acquisition deals. The SEC claims that Viggiano violated his employers’ trust by using confidential information to enrich himself and his friends. The complaint states that Viggiano passed tips on at least eight transactions between 2021 and 2023, resulting in over $580,000 of illegal profit. The SEC has also charged the recipients of the trading tips, Christopher Salamone, Stephen Forlano, and Nathan Bleckley. Viggiano faces nine securities fraud and conspiracy charges. U.S. Attorney Damian Williams stated that Viggiano betrayed the trust of his employers and vowed to prosecute those who attempt to cheat the system.
This case is the latest example of insider trading being uncovered in recent months. A Massachusetts police chief was recently charged with insider trading that allegedly yielded over $2.2 million in illegal profits. Additionally, a former Republican congressman was sentenced to 22 months in prison for trading on inside information. The former politician used prior knowledge of two large telecoms deals to make nearly $350,000 in illegal profit. The former head of product at the NFT marketplace OpenSea was also recently sentenced to three months in jail for insider trading.
The issue of insider trading has also engulfed high-profile figures, such as Nancy Pelosi, the Speaker of the House of Representatives. Pelosi’s husband, Paul Pelosi, has faced criticism for his stock trades that appear to align with US legislation in the technology sector. A “Nancy Pelosi Stock Tracker” account on social media has gained a significant following as it reports on potential insider trading activities of politicians and public figures.
These recent cases highlight the ongoing problem of insider trading and the need for stricter regulations and enforcement to combat this illegal activity. The SEC’s charges against Viggiano serve as a warning that those who engage in insider trading will face legal consequences. The investigation and prosecution of these cases demonstrate the commitment to ensuring a fair and transparent financial Market..
#SEC #Sues #Goldman #Sachs #Analyst #Insider #Trading
This case is the latest example of insider trading being uncovered in recent months. A Massachusetts police chief was recently charged with insider trading that allegedly yielded over $2.2 million in illegal profits. Additionally, a former Republican congressman was sentenced to 22 months in prison for trading on inside information. The former politician used prior knowledge of two large telecoms deals to make nearly $350,000 in illegal profit. The former head of product at the NFT marketplace OpenSea was also recently sentenced to three months in jail for insider trading.
The issue of insider trading has also engulfed high-profile figures, such as Nancy Pelosi, the Speaker of the House of Representatives. Pelosi’s husband, Paul Pelosi, has faced criticism for his stock trades that appear to align with US legislation in the technology sector. A “Nancy Pelosi Stock Tracker” account on social media has gained a significant following as it reports on potential insider trading activities of politicians and public figures.
These recent cases highlight the ongoing problem of insider trading and the need for stricter regulations and enforcement to combat this illegal activity. The SEC’s charges against Viggiano serve as a warning that those who engage in insider trading will face legal consequences. The investigation and prosecution of these cases demonstrate the commitment to ensuring a fair and transparent financial Market..
#SEC #Sues #Goldman #Sachs #Analyst #Insider #Trading