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In article <unmu3f$2kg8d$4@dont-email.me>
"Queer - Inmate Number P01135809" <patriot1@protonmail.com>
wrote:

NEW YORK (AP) — A former U.S. congressman from Indiana,
technology company executives, a man training to be an FBI
agent, and an investment banker were among nine people charged
in four separate and unrelated insider trading schemes revealed
on Monday with the unsealing of indictments in New York City.

It was one of the most significant attacks by law enforcement on
insider trading in a decade, and a prosecutor and other federal
officials pledged fresh enthusiasm for similar prosecutions in
the future. They said the cheating resulted in millions of
dollars of illegal profits for defendants situated on both
coasts and in middle America.

Stephen Buyer was accused in court papers of engaging in insider
trading during the $26.5 billion merger of T-Mobile and Sprint,
announced in April 2018. An indictment identified him as someone
who misappropriated secrets he learned as a consultant to make
$350,000 illegally.

Buyer, 63, of Noblesville, Indiana, was arrested Monday in his
home state. He served on committees with oversight over the
telecommunications industry while a Republican congressman from
1993 through 2011.

He was described as making purchases of Sprint securities in
March 2018 just a day after attending a golf outing with a T-
Mobile executive who told him about the company’s then-nonpublic
plan to acquire Sprint, according to a civil case brought
against Buyer by the Securities and Exchange Commission in a
federal court in Manhattan.

Authorities said he also engaged in illegal trading in 2019
ahead of Navigant Consulting Inc.’s acquisition by consulting
and advisory firm Guidehouse. Documents said he leveraged his
work as a consultant and lobbyist to make illegal profits.

His lawyer, Andrew Goldstein, said in a statement: “Congressman
Buyer is innocent. His stock trades were lawful. He looks
forward to being quickly vindicated.”

U.S. Attorney Damian Williams told a news conference that the
cases, in addition to several other recently announced
crackdowns on insider trading, represent a follow-through on his
pledge to be “relentless in rooting out crime in our financial
markets.”

“We have zero tolerance, zero tolerance for cheating in our
markets,” said Gurbir S. Grewal, director of the SEC Enforcement
Division.

“When insiders like Buyer — an attorney, a former prosecutor,
and a retired Congressman — monetize their access to material,
nonpublic information, as alleged in this case, they not only
violate the federal securities laws, but also undermine public
trust and confidence in the fairness of our markets,” Grewal
said.

In a second prosecution, three executives at Silicon Valley
technology companies were charged with trading on inside
information about corporate mergers that one of them learned
about from his employer.

An indictment accused Amit Bhardwaj, 49, of San Ramon,
California, who was the chief information security officer of
Lumentum Holdings Inc., of using secrets to trade illegally and
then giving the information to criminal associates, including
four friends. The SEC said Bhardwaj and his friends generated
more than $5.2 million in illicit profits by trading ahead of
two corporate acquisition announcements.

A lawyer for Bhardwaj did not immediately return messages
seeking comment.

In a third case, Seth Markin, of Washington Crossing,
Pennsylvania — a man who was training to be an FBI agent —
allegedly stole inside information from his then-girlfriend who
was working at a major Washington D.C. law firm. According to
court papers, he and a friend made more than $1.4 million in
illegal profits after he learned that Merck & Co. was going to
acquire Pandion Therapeutics. It was unclear who would represent
Markin in court.

In a fourth indictment, an investment banker based in New York
was charged with sharing secrets about potential mergers with
another person, on the understanding that the pair would share
illegal profits of about $280,000.

Authorities said seven of the nine defendants were arrested
Monday while two were arrested previously.

https://apnews.com/article/technology-new-york-city-congress- 9b2aa70c7d419cde7d3678505670ce85

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