World

Illegal deals worth $7 million uncovered in the US

WASHINGTON, July 25 – RIA Novosti. The US Attorney’s Office, following a joint investigation with US regulators and the FBI, filed charges of illegally obtaining and using confidential information to generate profits worth millions of dollars against ten people, including a former congressman, an ex-FBI employee and a number of businessmen. This was announced on Monday at a press conference by Attorney for the Eastern District of New York Damian Williams.
“Announcing four separate insider trading cases involving nine defendants who have made millions of dollars in profits. Among those arrested today are a former congressman, an FBI agent, a number of top executives from Silicon Valley companies and an investment banker who worked for one of the largest financial institutions,” Williams stated.
According to the materials of the US Securities and Exchange Commission published on Monday, the actions of the attackers brought them illegal profits of about seven million dollars.
One of the defendants was former FBI officer Seth Markin. He reportedly stole confidential information from biopharmaceutical company Merck & Co. about a pending deal for later use of the stolen data with an accomplice. The illegal trade brought them over $1.3 million.
The other defendant is former Republican Congressman Stephen Buyer, who represented Indiana in Congress from 1993 to 2011.
According to published materials, he committed the first crime in 2018, when he advised the telecommunications company T-Mobile. According to authorities, the former politician learned about T-Mobile’s plans to acquire Sprint and bought a stake in it ahead of the announcement of the deal. As a result, Buyer made illegal profits of more than $100,000 on changes in the value of securities. Later, the ex-congressman earned another 227 thousand dollars on the securities of the consulting company Navigant Consulting, having also learned about its upcoming deal in advance, being a consultant.

In the US, five people were accused of participating in an international scheme of repression

Translation by RJ983

Disclaimer: Via RIA Novosti – Checked




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