The Department of Justice has accused a former Pfizer employee and his friend and business partner in participating in an insider-trading scheme based on confidential information about the results of clinical trials of a medicine used to treat COVID-19. Prosecutors in New York have accused 44-year-old Amit Dagar, of Hillsborough, New Jersey, of buying call…
Ex-Pfizer Employee Faces Insider-Trading Charges on COVID-19 Drug Trial
Feds Accuse 3 Investors of Insider Trading Linked to Trump Media SPAC Deal
The Justice Department has accused three Florida men of insider trading in Digital World Acquisition Corp (DWAC) based on confidential information obtained before the special purpose acquisition company publicly announced plans to merge with former President Donald Trump’s social media company. Michael Shvartsman, his brother Gerald Shvartsman, and Bruce Garelick made over $22 million in…
‘Perceived Gaps’ in Investigations on Fed Chair Powell’s Alleged Insider Trading: Sen. Warren
Sen. Elizabeth Warren (D-Mass.) blamed Federal Reserve Inspector General (IG) Mark Bialek for a lack of “competent oversight” during a Wednesday hearing while discussing the issue of potential insider trading by Fed officials. During a Senate Banking Subcommittee on Economic Policy hearing, Warren questioned Bialek about suspicious trades involving Federal Reserve Chair Jerome Powell and former Vice Chair…
Atlanta Federal Reserve Chief Investigated for Breaking Trading Rules
October 16, 2022
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Atlanta Federal ReserveBusiness & Marketsfed chiefillegal tradingInsider TradingRaphael BosticUSUS News
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Raphael Bostic, president of the Atlanta Federal Reserve Bank, is currently under investigation after admitting to not disclosing certain trading activities that he engaged in during restricted periods. Since assuming office in 2017, Bostic claims he has ensured his assets are only held in managed accounts which neither he nor his personal investment advisor has…
Thousands of Federal Officials Found Stock Trading in Companies Overseen By Their Agencies
October 14, 2022
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Business & MarketscongressCrime and Incidentsfinancial disclosureHouse Speaker Nancy PelosiInsider TradingMarketsPolicies & ImpactsPoliticsstock tradingThe Wall Street JournalUSUS News
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Over 2,600 officials at federal agencies invested in stocks of companies at the same time the firms were lobbying their departments for favorable policies, uncovered an investigation by the Wall Street Journal (WSJ). WSJ looked at over 31,000 financial disclosure forms of over 12,000 political staff members, presidential appointees, and career employees—analyzing data of more…
The Deep State Plays the Financial Markets
Commentary The least-investigated part of the federal government is the senior civil service. It’s invisible to mainstream media mostly because reporters rely heavily on career bureaucrats for reporting and tips. Therefore, they leave it alone for career reasons. It becomes a kind of cabal with each side protecting the other. The administrative state is easily…
SEC Charges Two Chinese Executives With Insider Trading
The Securities and Exchange Commission (SEC) charged executives of Cheetah Mobile Inc. with insider trading for selling Cheetah Mobile’s securities through a trading plan that withheld “a material negative revenue trend.” According to the SEC order on Sept. 21, Sheng Fu, the company’s CEO, and Ming Xu, its then-president and chief technology officer, jointly established…
Pelosi’s Husband ‘Wrong’ to Sell Chips Shares, GOP Might Change Member Trading Rules: McCarthy
During a weekly briefing on Friday, House Minority Leader Kevin McCarthy (R-Calif.) said it was wrong that Paul Pelosi, husband of House Speaker Nancy Pelosi (D-Calif.), was allowed to sell his shares of a computer chip manufacturer just before the House voted on a chips manufacturing bill. McCarthy suggested Republicans would look into options for changing…
Former Indiana Congressman Charged by SEC with Insider Trading
The Securities and Exchange Commission (SEC), on July 25, announced that it would pursue criminal charges for insider trading against former Rep. Steve Buyer (R-Ind.). In a report announcing the charges, the SEC laid out its case against Buyer, alleging that he used his position in Congress to gain nonpublic access from T-Mobile about a…
Feds: 1st Cryptocurrency Insider Trading Case Snares 3
NEW YORK—A former Coinbase product manager and his brother, along with a Houston man, were charged Thursday in what federal authorities described as the U.S. government’s first cryptocurrency insider trading case. The brothers—Ishan Wahi and Nikhil Wahi—were arrested while the Houston man, Sameer Ramani, remained at large, federal authorities said as they announced the unsealing…
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